Citi has named Benny Aroeman as head of markets for Indonesia.
Based in Jakarta, Aroeman reports to Sue Lee, head of markets for Asia South and Batara Sianturi, Citi country officer and banking head for Indonesia.
Sianturi commented: “Indonesia is a key market for us. We see client activity increasing across our interconnected businesses as foreign and domestic investments into Indonesia continue to strengthen.”
Citi reported a 12% increase in markets revenues year-on-year for the first three months of 2025, reaching US$6 billion. Equity revenues were up 23% to US$1.5 billion.
“[This was] primarily driven by equity derivatives, on increased market volatility and higher client activity, and momentum in prime services,” the firm stated in its report.
Aroeman has more than 30 years of industry experience and joins Citi from ANZ Indonesia, where he has been head of markets since 2019. He has also held senior roles including head of treasury and markets sales at DBS Bank and deputy head of corporate sales for global markets at HSBC.
His appointment follows several that Citi has in the Asia South region over recent months, including Nattaphan Assavavisessivakul as head of markets for Thailand, Ng Hooi Wan as head of markets for Malaysia, and Christopher Chan as the incoming head of financial institution market solutions for Asia South and Asia North.
