Story
Citigroup Bolsters Asia FX Options Desk with Three Senior Hires in Singapore
Summary
Citigroup has appointed three senior traders from rival banks to its foreign exchange options desk in Singapore, aiming to expand its market-making capabilities following a strong quarter for its markets division.
Citigroup has appointed three senior traders to its foreign exchange options desk in Singapore, a move aimed at enhancing its market-making and risk management capabilities in the Asia-Pacific region. The hires, announced in a company statement, signal the bank's intent to build on recent strength in its global FX business.
Key Appointments
The Wall Street bank has brought on experienced traders from several major financial institutions to strengthen its Singapore hub. The new hires include:
- Eric Poon joins as a director on the FX emerging markets (EM) options trading team. He brings two decades of experience from roles at BNP Paribas, OCBC Bank, and RBS.
- Richeng Zheng has been appointed as a G10 options trader. He joins from Bank of America, where he was the sole G10 options book runner in the Asia time zone.
- Ying Zhou will join in August as an EM options trader specializing in exotic derivatives and FX options, moving from Deutsche Bank.
Poon and Zhou will report to Akshay Saxena, head of FX options for Asia Pacific, while Zheng will report to director Nicky Lam, according to the statement.
AdStrategic Rationale
The appointments are part of Citigroup's broader strategy to strengthen its global foreign exchange options franchise. By adding experienced personnel in Singapore, a key financial hub for the region, the bank is positioning itself to better serve clients and manage risk in both G10 and emerging Asian currency markets.
This expansion follows a period of strong performance for the bank's trading arm. In the second quarter of 2026, Citigroup reported that its overall markets revenues increased 17% to $7.0 billion. Its Fixed Income markets revenue, which includes foreign exchange, grew 7% to $4.7 billion, a result the bank attributed in part to higher FX volumes.
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