Citigroup investment bank chief retires, appoints new head of FX

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Edward 'Ned; Kelly, chairman of Citigroup’s institutional businesses, including the investment bank, is retiring and will be succeeded by Vice Chairman Stephen Volk.

Bloomberg News reports that Kelly, 61, told co-President Jamie Forese, who runs the businesses, about his intention to step down, Danielle Romero-Apsilos, a spokeswoman for Citigroup, said yesterday in an e-mail. Kelly will help with a transition before departing in coming weeks, she said.

Kelly was hired in 2008 by Vikram Pandit, then Citigroup’s chief executive officer, and joined the alternative investments unit. During his tenure, he worked on some of Citigroup’s biggest transactions, including the sale of the Smith Barney brokerage division. Kelly also served as chief financial officer for part of 2009.

Meanwhile, Citigroup have named James Bindler the bank's global head of foreign exchange, succeeding Jeff Feig, according to an internal memo.

Reuters reports that Bindler will be responsible for trading, prime brokerage, e-commerce and corporate FX Sales among other things.

He is currently trading and global head of foreign exchange options for central and eastern Europe, the Middle East and Africa.

Citigroup's Ned Kelly Retires as Investment Bank Chairman

Citigroup names James Bindler as FX chief


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