Bloomberg News reports that Perlowitz, 59, announced his plan to step down as co-head of the bank’s unit that trades bonds backed by assets such as home loans and credit-card debt, according to a memo Thursday from Citigroup President Jamie Forese and markets chief Paco Ybarra.
In the meantime, Bloomberg also reports Jay Huang, the global head of collateralized debt obligations trading at Citigroup, has left the bank, according to people with knowledge of the matter.
Huang, who was leading Citigroup’s CDO and collateralized loan obligation trading business, departed this week, said the people, who asked not to be identified as the information isn’t public. Huang had been with the bank since at least 2000, Financial Industry Regulatory Authority records show.
Finally,, Bloomberg reports that Jefferies Group’s Peter Bacchus stepped down from his role as global head of metals and mining and co-head of European investment banking, a person familiar with the move said.
Bacchus, 47, a managing director who joined Jefferies in London five years ago from Morgan Stanley, is taking a senior advisory role at the firm and won’t be replaced, said the person, who asked not to be identified discussing personnel. Dominic Lester will be sole head of European investment banking, the person said.