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.
