Foreign exchange (forex) technology company Integral announced this Wednesday that it has appointed a new Chief Strategy Officer and Head of Business Development – Sanjay Madgavkar.

In this new role, Madgavkar will set the business strategy and will be responsible for identifying new markets and opportunities for the company, the statement said. In addition, he will manage senior relationships with the firm’s clients and strategic partners.

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Madgavkar is a veteran in the forex sector, having spent the majority of his career at Citi. Specifically, he brings more than two decades of experience working in the FX industry, initially starting out in FX sales in 1997.

Commenting on the appointment, Harpal Sandhu, the Chief Executive Officer of Integral said: “Sanjay is one of the most highly respected and knowledgeable people in our industry.

“He joins us at an exciting time because advancements we’ve made to our platform enable Integral to impact the entire FX market. Sanjay’s experience will be critical in guiding the company as we continue to grow, and I look forward to working with him.”

Sanjay Madgavkar’s Career in FX

During his 20-year tenure with the firm, he held a number of roles. Such as Co-Head of Citi’s FX and FI e-commerce business in North America and Head of Citi’s Margin FX trading business.

His most recent position with the United States-based firm was Managing Director and Global Head of Citi’s FX Prime Brokerage. He commenced this position in May 2012, having been promoted from his prior role of Global Head of Margin FX Trading.

“I have known and partnered with Integral throughout my career. They have always been the technology leader in the FX industry. Joining this outstanding executive team is an honor,” added Madgavkar.

“Together I believe we will take Integral to the next level where all market participants will have access to the most sophisticated FX technology available.”