Citi has announced that Sumanta Panigrahi will take up the position of head of trade and working capital for Asia Pacific, a Hong Kong-based role. 

Panigrahi joined Citi in 2000 and was most recently the global lender’s head of export and agency finance for Asia Pacific. Over the course of his tenure at the bank, he has also held roles in Mumbai and London. 

With immediate effect, he is tasked with growing Citi’s trade and working capital business across the region, working alongside regional client, product and country business partners. 

Panigrahi reports to Chris Cox, global head of trade and working capital solutions, and to Rajesh Mehta, Asia Pacific head of treasury and trade solutions. 

The move follows a leadership reshuffle within Citi’s treasury and trade solutions team for Asia Pacific in April this year, which involved appointing Anoushka Dua as head of Asean and Kirstin Renner as head of Australia and New Zealand. 

The bank says Asia Pacific “continues to be an important region for the trade and working capital solutions business, and Citi is focused on growing its business and market share amongst its corporate and commercial bank clients”.