Dec. 6 (Bloomberg) -- Citigroup Inc., the third-largest U.S. lender by assets, hired Nomura Holdings Inc.’s Brent Donnelly to trade currencies in New York, a person with direct knowledge of the matter said.
Donnelly, 41, formerly global head of Group of 10 currency spot trading for Nomura, will be a foreign-exchange and local-markets spot trader at Citigroup, said the person, asking not to be named because the move isn’t public. Donnelly will join the New York-based firm in March and be based at its Greenwich Street offices, another person familiar with the hire said.
Citigroup ranked as high as fourth among the 10 biggest global investment banks in G-10 currency trading in 2012, according to Coalition Ltd. In October, the bank reported a $3.23 billion third-quarter profit that missed analysts’ estimates as fixed-income trading slumped 26 percent. The biggest declines came from interest rates and currencies, Chief Financial Officer John Gerspach said at the time.
Donnelly will be overseen by Keizo Fujii, who reports to Jeff Feig, global head of G-10 foreign-exchange, one of the people said.
Citigroup told its head of European spot trading, Rohan Ramchandani, in October that he’ll be put on leave after regulators started probing the alleged manipulation of foreign-exchange rates by financial firms, people with knowledge of the move said at the time. He hasn’t been accused of wrongdoing.
Jonathan Hodgkinson, a spokesman for Nomura, confirmed Donnelly’s departure and declined to comment further. Scott Helfman, a Citigroup spokesman, said the firm wouldn’t comment on Donnelly.