Citigroup Inc. has appointed a new head for its Japanese markets business as Chief Executive Officer Vikram Pandit seeks to rebuild there after drawing a third bout of regulatory punishment in seven years in December.
Suneel Bakhshi was appointed president and CEO of Citigroup Global Markets Japan, according to a statement on the New York-based bank's website. Bakhshi is currently chief risk officer of Citigroup's commercial bank, according to the statement.
Bakhshi is taking over duties from Brian Mccappin, who the bank said in December would resign after the unit was banned for two weeks from trading tied to the London and Tokyo interbank offered rates. Citigroup staff attempted to improperly influence the rates, the Financial Services Agency said.