Citigroup has made an internal appointment to fill a newly created position in its large foreign exchange business in Singapore.
Patrick Perret-Green has moved from Citi’s Europe Markets division in London to head the bank’s FX and local markets strategy for Asia ex-Japan, Citi said in a statement released yesterday. He leads a team of three strategists and analysts, and reports to Nadir Mahmud, Asia head of FX local markets trading and risk treasury.
"We are seeing increased demand from our clients across the FX and local markets business in Asia-Pacific and [Perret-Green’s] appointment underlines our commitment to provide clients with the most innovative ideas, products and services across our regional platform," said Mahmud.
Citi claims to process more than 5,000 trades each day with volumes exceeding $15 billion, and has the ability to quote over 400 currency pairs.
Perret-Green will be responsible for driving the development of the Asian FX and local markets strategy, by producing written commentaries and research publications. In London, he has run a strategic trading book for the bank since 2007.
Perret-Green started his new job yesterday, but has been in Singapore for the past month.
Before joining Citi, he was chief strategist at Mizuho Capital Markets in London from 2004. For most of the 1990s he was a European government bond trader with Merrill Lynch and JP Morgan Chase (Chemical Bank), and he began his career as a bond analyst with Samuel Montagu & Co in 1987.