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Citi just let go of a JPMorgan trader it hired in summer 2023

Citi is understood to have let go of a trader it hired from JPMorgan in London less than a year ago.

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Aditya Singhal spent 13 years at JPMorgan before joining Citi as head of CEEMEA rates trading in July 2023. It's thought that Citi has just let him go.

Citi declined to comment, and Singhal didn't respond to a request to divulge his whereabouts. He's thought to have lost up to $20m in a trade relating to Hungary.

Jane Fraser warned people that this week would be harsh at Citi as it moves into the final phase of its 5,000 (initial) job cuts. However, those job cuts are supposed to involve the extraction of managerial layers, not the dismissal of people on the trading floor. 

Singhal isn't the only senior EMEA rates trader leaving a bank this week. Carl Scott is also leaving Barclays, although Bloomberg reported that he "decided" to go.

It's not clear who will be replacing Singhal at Citi. He was a director there. Citi promoted Aaron Gregory, a longstanding director in CEEMEA trading at the bank to managing director (MD) in January 2024.

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Photo by Tolu Akinyemi 🇳🇬 on Unsplash

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AUTHORSarah Butcher Global Editor
  • Go
    Good article
    28 March 2024

    Sarah, I have more stories about Citi. I can share some inside true information about this phase 4.

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