Citigroup APAC Prime Finance to be Led by Jignesh Patel

Citigroup APAC prime finance operations will be led by Jignesh Patel, a former Goldman Sachs and Millennium Management executive, as part of the bank’s expansion of services for hedge funds in the region. Based in Hong Kong, Patel will report to the bank’s global prime services heads and APAC equity trading chief. His responsibilities include trade settlement, securities lending, business advisory and investor introductions. The appointment follows record Q2 results for Citi’s equities division, with prime services contributing to a 16% rise in revenue and a 20% increase in profit.