Report - Citi lets go bond salesmen to focus on big clients

Citi Building Sign

Citigroup has let go at least five bond salesmen, including four who sold debt to mid-size investment firms, as the bank focuses on its biggest clients, according to people familiar with the matter.

Bloomberg News reports that Michael Tofias, a managing director, was among those who left the firm, according to the people, who requested anonymity because they weren’t authorized to speak publicly.

Directors Lee Peyser, who worked in high-yield sales, and Paul Giroux were also cut, as was Daniel Beiley, a vice president, the people said. All four were members of a team, which focused on smaller money-management firms, that was disbanded last year, one of the people said.

Nancy Wilson Brothers, a director in institutional credit sales who wasn’t part of the larger group, was also let go, she said in a telephone interview, declining further comment.

To access the complete Bloomberg News article hit the link below:

Citigroup Said to Cut Five Bond Salesmen to Focus on Top Clients

Short History of Basel’s Connection With Bank Risk Models

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News