Citigroup Head of Digital Assets, Shobhit Maini, Departs After 14 Years

Shobhit Maini, Citigroup’s global head of digital assets for its markets unit, is leaving the bank after more than 14 years of service. Maini, who joined Citigroup in 2010, has been a key figure in the bank’s digital asset initiatives since 2021. According to an internal memo acquired by Reuters, Maini is leaving to pursue an entrepreneurial opportunity in the digital asset space.

Leadership Transition:

With Maini’s departure, Deepak Mehra will assume an expanded role as the new leader of digital assets for Citigroup’s markets unit. Mehra, currently the international lead for Citi markets’ strategic investments, will oversee the bank’s digital asset initiatives.

Citigroup’s Involvement in Digital Assets:

Citigroup has been actively involved in several digital money and tokenization projects. Notably, the bank became the first digital custodian participant of the BondbloX Bond Exchange (BBX) last year. BBX, launched in 2020, is the world’s first fractional bond exchange, designed to simplify bond investing.

Background and Future Implications:

Maini’s departure marks a significant change for Citigroup’s digital asset strategy as the bank continues to explore and invest in the evolving digital finance landscape. While Citigroup declined to comment on the departure, the transition to Mehra’s leadership will likely influence the direction of the bank’s future digital asset projects.