Citi cuts around 35 jobs on London trading floor: sources
Reuters
Published Nov 19, 2014 07:34AM ET
Citi cuts around 35 jobs on London trading floor: sources
LONDON (Reuters) - U.S. bank Citi (N:C) has cut around 35 jobs across its capital markets trading operation in London, sources with knowledge of the changes said on Wednesday.
The cuts, announced internally last month, were across all asset classes, the sources said, and included head of G10 currency strategy Valentin Marinov.
The move is the latest sign of a squeeze on high-earning jobs on banks' trading floors stemming from the growth in machine-driven trading and broader cutbacks in budgets at banks since the 2008 financial crisis.
(Reporting by Patrick Graham and Jamie McGeever; editing by Jason Neely)
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