Citigroup Said to Hire Wise for Foreign Exchange Trading

Citigroup Inc. hired Daniel Wise as European head of foreign-exchange spot trading for Group of 10 currencies, according to two people with knowledge of the move.

Wise, who starts today, joins from Credit Suisse Group AG where he held a similar position, one person said, who asked not to be identified because the details aren’t public.

Wise, based in London, replaces Rohan Ramchandani, who was head of European spot trading until being let go in January, one of the people said. Regulators have been probing whether traders at the world’s largest banks colluded through instant-message groups to manipulate benchmarks such as the WM/Reuters rate.

Officials for Citigroup and Credit Suisse declined to comment as did Wise, reached on his mobile phone.

Wise reports to Citigroup’s Richard Bibbey, global head of G-10 spot, a person said. The Wall Street Journal reported the hire earlier today.

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