Citi has appointed Jignesh Patel as APAC head of prime finance as it continues to build out its presence in the region.
The announcement follows comments from Japan, Asia North, Australia (JANA) head of markets Paul Smith earlier this year that the company planned to increase its prime business headcount in the region by 5-10%.
Citi performed well in Q2 2025, with the markets division reporting US$5.9 billion in revenues – including a record quarter for equities, with a reported US$1.6 billion in revenues. Within this, the company says, prime balances were up 27%.
READ MORE: Derivatives, prime brokerage shines in US banks’ Q2 equity results
Based in Hong Kong, Patel reports to APAC head of equity trading Robert Stewart and Sebastien Mailleux and Tim Tomalin-Reeves, global heads of prime services.
In the role, Patel is responsible for the overall growth of Citi’s prime finance service in the region. He also oversees prime product stock borrow and lending, synthetic prime brokerage, funding trading, and in-business risk.
Patel joins Citi from Millenium, where he was Asia treasurer overseeing portfolio financing, liquidity management, cash and collateral management and counterparty risk. The bulk of his career has been spent at Goldman Sachs, where he co-managed the Asia prime business. He was with the company for close to 30 years.
