Citigroup C is set to merge two key divisions in its sales and trading unit foreign-exchange and rates businesses. This move will mark the first major overhaul after Paco Ybarra took position as head of institutional-clients group in April 2019.
The restructuring is expected to support the bottom line as the two divisions complement each other by sharing technology and corporate-sales teams and having overlapping products. Co-heads of the markets division, Carey Lathrop and Andy Morton said, “We believe this more streamlined operating model will drive better client service, risk management and profitability.”
Notably, the G10 Rates Finance unit will not be merged into the new combined rates and currencies business.
Also, there has been som…
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