Asia Risk 15: Rodrigo Zorrilla, Citi

Citi’s global footprint has enabled it to benefit from the development of onshore, offshore and basis markets. The bank’s head of markets for Asia, Rodrigo Zorrilla, says Citi has also catered to client demand by supplying a steady stream of exotics. Christopher Jeffery reports

Citi has had a tough past three years. What was once the world’s largest bank was humbled following a series of miscalculations – many of them related to understanding risk – that resulting in a US taxpayer bailout and the change of its top management. On the ground in Asia, the bank was also hit by some counterparty credit issues. Clients, meanwhile, stated the US bank had to rein in credit lines sharply.

By and large, however, Citi’s operations in this part of the world have performed well and