Two senior bankers at Citigroup’s operations in Thailand and Japan are to swap roles on a permanent basis in a reshuffle that was sparked when Japanese regulators in December punished the US bank over problems with customer protection management, governance and information technology risk management.

Peter Eliot is to become chief executive of Citi's Japanese holding company this summer, according to Bloomberg, while Darren Buckley has been named country officer for Thailand and head of Citi's institutional business in the country.