Skip to content
Subscriber Only

Citi U.S. High-Yield Credit Analysts Exit as Bank Disbands Team

  • Managing director Somaiya among those departing the bank
  • Cuts come as bank aims to shed about 400 jobs in trading group

Citigroup Inc. is disbanding its U.S. high-yield debt research team, cutting jobs while assigning some members of the group to other roles, according to people familiar with the matter.

Among the moves is managing director Manish Somaiya, who covered auto and industrial debt and is departing the bank. David Phipps, James Yoon and Bill Henry are also exiting. The disbanding doesn’t affect the bank’s macro strategist group.