Citigroup Emerging Markets Traders Poliakov, Gooden Said to ExitAlastair Marsh
Citigroup Inc. emerging-market debt traders Ilia Poliakov and Steven Gooden have left the bank, according to people familiar with the matter.
Poliakov, who traded sovereign bonds and created structured notes linked to emerging-market securities, left the U.S. lender after a 14-year career, according to one of the people, who asked not to be identified because they’re not authorized to speak publicly. Gooden also traded emerging market debt.
Citigroup eliminated about 30 jobs in its global markets business starting in November, including Valentin Marinov, head of Europe G-10 foreign-exchange strategy in London. The cuts in sales and trading roles were part of efforts by the New York-based bank to reduce costs, a person familiar with the matter said at the time.
Simon Boughey, a spokesman for Citigroup in London, declined to comment on the departures. Elbek Muslimov, Citigroup’s London-based head of emerging-markets credit trading for central and eastern Europe, the Middle East and Africa, also declined to comment.
Banks are paring costs amid dwindling transactions, regulatory requirements and a shift to electronic trading. Deutsche Bank AG, Germany’s largest lender, said in November it was exiting part of its credit trading business because new regulations make it too costly to operate.