Jo Narita joined Citi Tokyo as head of FX trading at the beginning of the week.
Narita had been at Goldman Tokyo for the last eight years. An internal memo, seen by theweeklyFiX makes it clear that Citi believes the hire is a big one because Narita has “...unique market-making and risk management skills that have led him to be regarded as one of the pre-eminent traders in FX, not only in Japan but globally.”
Citi certainly has been making a big push into the Japanese FX market, they have made six hires in sales, structuring and e-commerce in the last few months to our knowledge. But Narita is certainly the biggest hire – one the banks expects “will play a key role in the expansion of not only the trading business, but the overall Japan FX business as well.”
Before Goldman, Narita was at JPMorgan in Tokyo, and before that at UBS in Tokyo, Singapore and London.