Citigroup, one of the largest financial services providers, has dismantled its global foreign exchange market analysis team, cutting some analyst positions, Bloomberg reported Thursday, citing people familiar with the matter.
According to a source who spoke to Bloomberg and asked not to be identified about human resources, all CitiFX Strategy jobs are affected, although those affected may continue to work in other divisions of the bank. .
In addition, Citi has also disbanded its Latin American corporate bond trading team due to low liquidity and reduced issuance, the outlet revealed in a separate report, citing two sources familiar with the matter. The most affected traders were Christopher Castelli, Albert Chang, Nabilah Kamal and office strategist Miguel Garcia de Onrubia, all based in New York.
According to the sources, Bloomberg further disclosed that those affected have already left while others are interviewing to fill the bank’s other positions.
Citi’s Latin American bond market plummets
Citi’s dismantling of its corporate bond trading team in Latin America comes at a time when its corporate debt market return in the region is in decline. The market has turned just over 1% this year behind emerging markets which have gained over 2%. Additionally, companies in the region saw $12 billion in new debt issuance, representing a 46% drop, Bloomberg data showed.
In the meantime, finance tycoons
announced in early March that Citi planned to strengthen its presence in France with a new trading room and more staff in response to changes in financial markets after Brexit. For a very long time, London was Citi’s gateway to the large European market before Brexit.
In another development, the Hong Kong Securities and Futures Commission (SFC) in March announced a ban on Philip John Shaw, former manager, board member and head of pan-Asian execution services at Citigroup Global Market Asia Limited. (CGMAL), for what he describes as serious regulatory violations. Shaw’s ban lasts ten years until March 3, 2033
Additionally, the SFC in January last year fined Citigroup’s Hong Kong subsidiary more than HK$300 million for securities violations related to its cash equities business. The watchdog also announced disciplinary measures against some members of the bank’s management team.
Former CFTC Chairman Joins Circle; Marqueta closes Australian office; read today’s news nuggets.
Citigroup, one of the largest financial services providers, has dismantled its global foreign exchange market analysis team, cutting some analyst positions, Bloomberg reported Thursday, citing people familiar with the matter.
According to a source who spoke to Bloomberg and asked not to be identified about human resources, all CitiFX Strategy jobs are affected, although those affected may continue to work in other divisions of the bank. .
In addition, Citi has also disbanded its Latin American corporate bond trading team due to low liquidity and reduced issuance, the outlet revealed in a separate report, citing two sources familiar with the matter. The most affected traders were Christopher Castelli, Albert Chang, Nabilah Kamal and office strategist Miguel Garcia de Onrubia, all based in New York.
According to the sources, Bloomberg further disclosed that those affected have already left while others are interviewing to fill the bank’s other positions.
Citi’s Latin American bond market plummets
Citi’s dismantling of its corporate bond trading team in Latin America comes at a time when its corporate debt market return in the region is in decline. The market has turned just over 1% this year behind emerging markets which have gained over 2%. Additionally, companies in the region saw $12 billion in new debt issuance, representing a 46% drop, Bloomberg data showed.
In the meantime, finance tycoons
announced in early March that Citi planned to strengthen its presence in France with a new trading room and more staff in response to changes in financial markets after Brexit. For a very long time, London was Citi’s gateway to the large European market before Brexit.
In another development, the Hong Kong Securities and Futures Commission (SFC) in March announced a ban on Philip John Shaw, former manager, board member and head of pan-Asian execution services at Citigroup Global Market Asia Limited. (CGMAL), for what he describes as serious regulatory violations. Shaw’s ban lasts ten years until March 3, 2033
Additionally, the SFC in January last year fined Citigroup’s Hong Kong subsidiary more than HK$300 million for securities violations related to its cash equities business. The watchdog also announced disciplinary measures against some members of the bank’s management team.
Former CFTC Chairman Joins Circle; Marqueta closes Australian office; read today’s news nuggets.
