Citi names Singapore-based Victor Alexiev as global head for its internal incubator programme D10X

CITI has appointed Victor Alexiev, as the global head of D10X, an internal incubation programme, for its Institutional Clients Group (ICG), effective immediately.

In a press statement on Friday (Oct 29), Citi said the D10X programme, launched in 2016 under Citi Ventures, is focused on the exploration of new strategic opportunities for growth and value creation for the bank.

As head of D10X ICG, Alexiev will lead a global team of former entrepreneurs, innovation strategists, product managers and venture builders to accelerate the development of new solutions that are accretive to the business and its clients, Citi highlighted.

Alexiev said: "With the acceleration of innovation investments across the industry, we are at the brink of the most exciting and fundamental transformation of financial services in this century. I am privileged to have the opportunity to work with a high-performing and diverse team to support Citi's journey."

Alexiev joined Citi in 2018 as the Asia head of D10X. His initial remit was focused on Citi's markets and securities services business. In 2020, it was expanded to include all of Citi Ventures' ICG relevant programmes and strategic partnerships across Asia.

To date, Alexiev has led his team to launch 3 products to market, with a combined obtainable market value of over US$500 million.

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One of the projects includes a fully automated securities lending solution for asset aggregators in partnership with fintech firm Sharegain.

Citi also noted that under Alexiev's leadership, the D10X team in Asia has supported a number of industry initiatives such as the development of a pragmatic blueprint for securities tokenisation led by the Asia Securities Industry & Financial Markets Association.

He will now report to the global head of venture innovation for Citi Ventures, Valla Vakili. Alexiev will also have a matrix reporting line to the managing director of ICG's business development and innovation segment, Gulru Atak.

"Today, we are focusing on long-term growth and helping to address societal and structural disruption, working with partners to discover and build new solutions customised for our hyper connected world. Victor and his team are well positioned to help lead this effort and I look forward to working closely with him in this new role," said Vakili.

Alexiev is currently based in Singapore and will continue to be based here until next summer.

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