Citigroup Said to Cut About 30 Jobs in Global Markets BusinessJulia Verlaine
Citigroup Inc. is eliminating about 30 jobs in its global markets business, according to a person with knowledge of the matter.
The job cuts in sales and trading are part of a continuing effort by the New York-based bank to reduce costs, said the person, who asked not to be identified because they aren’t authorized to speak publicly. A spokesman for Citigroup in London declined to comment.
Valentin Marinov, head of Europe G-10 foreign-exchange strategy in London, is among those leaving, according to two other people. Marinov declined to comment when reached on his mobile phone today.
Wall Street banks are paring costs amid dwindling transactions, regulatory requirements and a shift to electronic trading. Deutsche Bank AG, Germany’s largest lender, said yesterday it was exiting a portion of its credit business that new regulations made costlier.