Three Citigroup Asia Equity Derivatives Bankers Said to LeaveBy
Kim Wong, former head of Asia convertible bond trading, left
Duanmu Zhenyu and Priscilla Cheung also said to have departed
Three bankers in Citigroup Inc.’s Asian equity derivatives business left last month, according to people familiar with the matter.
Kim Wong, who was the head of Citigroup’s Asia convertible bond trading, said he departed the firm on Aug. 19. Duanmu Zhenyu, the managing director and head of exotic trading, and Priscilla Cheung, a Japan equity derivatives trader, also left the bank, said the people, who asked not to be identified because the details are private.
Zhenyu declined to comment when reached by phone. An e-mail sent to Cheung’s Citigroup account was returned with a delivery failed message. Godwin Chellam, a spokesman for Citigroup in Hong Kong, declined to comment.
Citigroup’s equity markets revenue globally excluding valuation adjustments decreased 4 percent in the second quarter due to lower activity after a strong trading performance in Asia in the prior year, according to the bank’s earnings report. A continued decline in structured products and trading under-performance across Europe and Asia dragged down equity derivatives revenue of 12 major banks to the lowest since 2012 according to a September report by Coalition Development Ltd., an analytics firm that tracks global banks including Citigroup and JPMorgan Chase & Co.