Citi cuts capital markets jobs

Axe In Wood

Not good heading into the holidays.

Citi has cut around 35 jobs across its capital markets trading operation in London, sources with knowledge of the changes said on Wednesday.

Reuters reports that the cuts, announced internally last month, were across all asset classes, the sources said, and included head of G10 currency strategy Valentin Marinov.

Citigroup cut 200 to 300 jobs in its division handling stock and bond trades in April in an effort to shrink costs.

Bloomberg News reported at the time that the reductions amounted to about 2% of the workforce in the bank’s global markets business.

'We continue to tightly manage expenses, making targeted headcount reductions in light of current market conditions', said a spokeswoman at the time. 'At the same time, we are adding some talent strategically'.

Citi cuts around 35 jobs on London trading floor -sources

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