Citi has appointed Lee Smallwood Chief Operating Officer of its Markets business, according to a source familiar with the matter.
Lee has experience across Markets front-office roles, COO leadership, and work in innovation, data and AI.
In his new role, Lee will partner with Markets leadership on the division’s operating model and strategic priorities.
Most recently, as Markets Head of Innovation and Investments, he led global teams focused on data-driven platforms, AI initiatives and strategic investments.
Prior to this, he held multiple senior roles within Markets and, externally, as COO of a digital asset dedicated investment fund and co-founder of a FinTech startup.
The hire comes as Citi modernizes its Markets business through technology and operational improvements.
In its latest shareholder letter, the bank said Markets revenue rose 11% while it continued building scale in equities.
