Citi has appointed Nathan Swami as head of markets for Singapore, effective immediately, subject to regulatory approvals.

Swami succeeds Smith Smithangura, who, after a distinguished career of more than 30 years, has “decided to retire from Citi at the end of June and enjoy a life outside of banking”, according to an internal memo.

Smithangura has been a member of the markets team for 15 years and has held key roles as the Asean head of investor sales and then head of markets for Singapore.

In addition to his new role, Swami will continue to serve as the head of FX trading for Asia-Pacific. He has over 17 years of experience with Citi in Singapore.

During his tenure, Swami has held various leadership positions, including head of FX options trading, Head of FX trading for Asia-Pacific, and chief executive officer of Citicorp Investment Bank Singapore Ltd. Prior to joining Citi, Swami worked as an FX options trader at Lehman Brothers in London.

Citi’s markets business has trading floors in 77 countries/markets around the world, with Singapore being one of the largest for the bank globally. It reported US$6 billion in revenues for the first three months of 2025, up 12% from the same period last year.