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Citigroup Rehires Gozdanker as Head of European Cash Trading

Revenue slumped 11 percent to $6.42 billion in 2012 at Citigroup Inc.’s European securities and banking division, which includes operations in the Middle East and Africa, the company said on Jan. 18. Photographer: Victor J. Blue/Bloomberg
Revenue slumped 11 percent to $6.42 billion in 2012 at Citigroup Inc.’s European securities and banking division, which includes operations in the Middle East and Africa, the company said on Jan. 18. Photographer: Victor J. Blue/Bloomberg

April 16 (Bloomberg) -- Citigroup Inc., the third-biggest U.S. bank, rehired Yonatan Gozdanker as head of European cash trading almost three years after he departed to join Russia’s Renaissance Capital.

“He started today” in a new position at the bank, Jeffrey French, a London-based Citigroup spokesman, said in an e-mail. Gozdanker, who didn’t return messages to his mobile phone, will report to Mike Pringle, global head of equities trading, and Andy Thompson, who is in charge of equities for Europe, Middle East and Africa, according to French.

Gozdanker joined RenCap as head of global equities in July 2010 from Citigroup, where he ran equity trading for central and eastern Europe, the Middle East and Africa. He worked with Gary Lennon and Vadim Varvarin, senior sales traders covering the same region. Gozdanker left last October as the Moscow-based bank cut personnel and costs in half because of a slowdown in global business.

Citigroup Chief Executive Officer Michael Corbat overhauled the firm’s operations outside the U.S. in January, naming Jim Cowles CEO of Europe, the Middle East and Africa. In February, the firm hired former Credit Suisse Group AG banker Luigi de Vecchi for the new job of chairman of continental Europe for corporate and investment banking. It named Tom Massey yesterday as European head of mergers and acquisitions.

Revenue slumped 11 percent to $6.42 billion in 2012 at Citigroup’s European securities and banking division, which includes operations in the Middle East and Africa, the company said on Jan. 18. Profit from continuing operations at the unit, which includes investment banking and trading, fell 32 percent to $1.35 billion.

To contact the reporter on this story: Jason Corcoran in Moscow at jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net

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