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Citigroup Moves Sales Traders to Cover for Ousted Hong Kong Team

  • Asia-Pacific equities head says bank spoke to clients Friday
  • Eight equities traders were pushed out after internal probe
Citigroup Said to Oust Traders After Stocks Misconduct Probe
Photographer: Justin Chin/Bloomberg

Citigroup Inc. moved a team of sales traders in Hong Kong to work on its equities desk to support clients after eight staff were pushed out in the wake of an internal investigation.

Among those moved were Ryan Clendenny, Will Faulkner, Annie Wong, Anthony Levenston and Jensen Feng, according to an internal email sent Sunday by Richard Heyes, Asia-Pacific head of equities. The bank held calls late Friday to reassure clients about the departures, Heyes also said in the email, the contents of which were confirmed by spokesman James Griffiths.