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Citigroups to merge its Forex and Rate-trading bussiness.

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Citigroup is to amalgamate two of the Huge divisions in its trading and sales unit. Citigroup been integrating its rates and currencies businesses, in the first restructuring under new investment Bank Boss Paco Ybarra.

The memo which was signed by Carey Lathrop and Andy Morton on monday, the rijig was announced by Citi. Carey Lathrop and Andy Morton who are the Co-Heads of Citi’s markets and securities business wanted to thank Nadir Mahmud for handling their leading FXLM franchise for over the last five years. The  G10 and local rates trading desk heads will be now reporting to Dunn and Goldbaum, as in addition to their subsisting regional reporting lines.

Reporting to Lathrop and Morton, also Andres Recoder who is the Head of EMEA Markets Sales, heading rates and currencies corporate sales will be done by Flavio Figueiredo.

Local and G10 markets treasury will merge into a single unit which was led by Andy Thursfield, with Ulises Garciga who is the regional head of local markets for Latin America, reporting to him.  Lathrop, Morton and Citi’s treasurer Michael Verdeschi will get report from Thursfieldwill.

Report to Dunn, Goldbaum and the corresponding regional sales heads will be done by Serge Pomonti, Mike Saraceni and Ben Travers  who are the heads of G10 rates investor sales for APAC & Japan, North America and EMEA.

Lionel Durix will be continuing to head rates and currencies structuring, reporting to Tuchman, Dunnand Goldbaum.

Jose Luis Yepez will be heading APAC rates and currencies trading reporting to Tuchman, Dunn, Goldbaum and locally to Stuart Staley who is the head of Asian markets and securities services.

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