The Head of Financial Technology Investment Banking at Deutsche Bank US, Rahul Singla, is set to step down from his position, joining Citigroup as the company’s new Managing Director of Fintech, according to Financial News.
Singla is leaving the company after more than 11 years of service, first having joined Deutsche Bank as an associate back in 2007 following five years in a managerial position at Deloitte Consulting.
The move from Citigroup is a significant boost to the firm within the fintech sector - a key area of focus for a range of both financial and technology firms in the current market.
Many traditional brick and mortar banks are more readily looking to digitise their operations in order to satisfy the growing demands of customers, something that Singla will be tasked with in his new role.
Just last month, Goldman Sachs hired a new Head of Digital Asset Markets to allow its customers to more readily access digital markets, whilst insurance broker Lockton appointed a new Chief Digital Officer.
Financial News reveals that Singla will report to Rick Diamond, Global Head of Financial Technology and Information Services at Citigroup, who previously worked as a Managing Director at JPMorgan.