Four Citigroup Inc. traders who deal in government-backed mortgage bonds have left the bank.
Swapnil Rege, who joined the New York-based lender more than a decade ago, and Kevin Cheng, who started at Citigroup in 2002, confirmed their departures by telephone, declining to comment further. The other traders to depart in the past month are Vadim Albinsky and Mark Zarkhin, according to three people with knowledge of the moves, who asked not to be named because the details aren’t public. Albinsky and Zarkhin declined to comment when reached by telephone.
At least some of the workers left for other jobs, including at hedge funds, the people said. Anna Raytcheva, who ran Citigroup’s government-backed, or agency, mortgage bond trading business, moved to a different position at the bank within the past month and was replaced by colleague Chetan Vohra, two of the people and a separate person said. The bank added to the group in October, hiring trader Mark Davis from Credit Suisse Group AG, according to Financial Industry Regulatory Authority records.
Raytcheva, who Finra records show joined the bank in 1994, declined to comment when reached by telephone. Vohra didn’t respond to telephone messages seeking comment, and Davis declined to comment.
The market is being dominated by the Federal Reserve even as the U.S. central bank reduces purchases of the debt meant to stimulate the economy. Scott Helfman, a spokesman for Citigroup, declined to comment.
Albinsky joined Citigroup in 2007 and Zarkhin started at the bank in 2004, Finra records show.