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Citi Forms a New Team in Its Trading Unit to Work With Black-Owned Banks

Citigroup Inc. created a new team inside its trading division that will focus on working more closely with minority depository institutions and diverse broker-dealers and asset managers.

The firm’s new diverse financial institutions group team will be led by Harold Butler, a senior banker who spent 16 years covering the U.S. Treasury Department and the Federal Reserve System in Citigroup’s investment banking arm, according to a memo to staff Wednesday. Butler’s new team will sit inside the company’s global spread products unit’s financing and securitization division.