Citi's Digital Assets Head to Leave

Shobhit Maini to Step Down from Markets Unit Role

Maini, who led Citi's digital assets unit, is reportedly leaving after more than a decade with the bank.

Maini's departure comes amid a broader shake-up at Citi's markets unit, which is being led by new head Paco Ybarra. Ybarra has been tasked with overhauling the unit's strategy and improving its performance. Maini's exit is a significant loss for Citi, as he was considered to be one of the leading experts on digital assets in the banking industry. He was responsible for developing and executing Citi's strategy for digital assets, including its involvement in blockchain technology and cryptocurrencies. Maini's departure is also a sign of the increasing challenges facing the digital assets industry. The industry has been plagued by volatility and regulatory uncertainty, which has made it difficult for banks to develop and implement successful strategies.