Citigroup Inc. has dismantled its global team that provides commentary and analysis on foreign-exchange markets, according to people familiar with the matter.
All jobs within the CitiFX global FX strategy team are affected, although some people may continue to work with Citi in other capacities, according to a person who declined to be identified discussing sensitive matters. Employees in London and New York are exiting the firm.
Those leaving or expected to leave include Ebrahim Rahbari, global head of FX analysis and content, Benjamin Randol, lead North America macro FX strategist and Giammarco Miani, according to people familiar with the matter.
Vasileios Gkionakis, head of European FX strategy, has not formally left but is in a consultation process, according to a person familiar with the matter.
Thomas Fitzpatrick, global head of CitiFX Technicals at the bank’s FX Strategy arm, also exited the firm last week, Bloomberg reported on Tuesday.
Separately, Citigroup has also dismantled its Latin America corporate bond trading team as liquidity tightens and issuance dries up, Bloomberg News reported earlier on Thursday.
A spokesperson for Citigroup declined to comment. Gkionakis was not available for comment. Randol, Miani and Rahbari didn’t immediately respond to requests for comment via LinkedIn.
By Maria Elena Vizcaino, William Shaw and Anya Andrianova / Bloomberg
