Citi creates group to invest in credit markets fintech firms

Citi creates group to invest in credit markets fintech firms

US banking giant Citi has set up a unit to invest in fintech startups working in credit markets, according to Bloomberg.

Operating within the bank's group for credit markets, municipal securities and securitised-markets operations, the new venture will look to invest in firms working on trading infrastructure, data analysis and AI, says Bloomberg, citing an internal memo.

The operation - called Spread Products Investment Technologies (Sprint) - is being helmed by Matt Zhang, a 33 year old global co-head of structured credit and securitised trading.

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