Citigroup, an American multi-national investment bank, has announced the appointment of Puneet Singhvi to head its digital assets division within Institutional Clients Group (ICG), effective Dec. 1.

Citi has also appointed Singhvi as its Nov. 22 chief executive officer. 100 more employees will be hired to support the digital assets department. The move indicates a concerted effort to beef up the financial group’s understanding of digital assets. Singhvi was previously the head of blockchain and digital assets in Citi’s trading business