As Citi moves to the next line of cuts in its Bora Bora simplification programme, sources say senior officials have disappeared from the US fixed income team.
Both Scott Silver, Global Head of Foreign Exchange Sales at Citi Janice Martin, head of corporate sales in New York, is understood to have exited. They have been with the bank for 21 and 18 years respectively.
City declined to comment on the departures. The bank is eliminating 5,000 jobs as part of management simplification and has 3,800 jobs remaining. The cuts are expected to take place in the first quarter.
As we are I mentioned yesterdayThe FX team is experiencing some discontent after a $900 million loss on the Argentine peso and management changes last year. Paul Baconovich, head of local markets for FX trading in EMEA, and Rod Edmondson, director of FX risk management, left last week.
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