Citigroup Digital-Assets Driver Itay Tuchman to Depart

Tuchman's next move may be into a digital-assets firm.

AccessTimeIconAug 23, 2022 at 11:55 a.m. UTC
Updated May 11, 2023 at 5:43 p.m. UTC
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Citigroup's (C) head of foreign exchange, Itay Tuchman, who was central to the bank's exploration of digital assets in recent years, is leaving, according to a person familiar with the decision.

He may be moving to take digital assets role, The Block reported, citing someone with close knowledge of the matter.

His departure ends a tenure of about two decades at the bank. For the past 5 1/2 years he has been the bank's global head of foreign exchange. He will be replaced by Stuart Staley, an 18-year Citi veteran, the person said.

Tuchman said in May 2021 that Citi, one of the world's 20 largest banks by market cap, had been seeing a surge in interest around cryptocurrencies. The following month the bank unveiled a digital assets group within its wealth-management division.

If Tuchman does move into a digital assets role, he would join a sizable stream of banking executives moving into crypto. In early July, Galaxy Digital (GLXY.TO) appointed a former Credit Suisse (CS) managing director, Danielle Johnson, as its global head of distribution to oversee sales and product strategy for institutional investors. A month earlier, a trio of JPMorgan (JPM) executives departed to join crypto firms.

Neither Tuchman nor Citi immediately responded to CoinDesk's request for comment.

UPDATE (Aug. 23, 12:03 UTC): Replaces sourcing with a person familiar with the matter; removes Reuters.


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Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

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