Citi suspends more FX staff
Hoodless and Madaras among those suspended
Citi suspended at least seven traders in its foreign exchange and local markets business in London and New York last week, according to market sources.
In New York, three FX traders working in emerging markets (EM) have been suspended, along with four in spot and EM in London, the sources say. Among them are Robert Hoodless, a director and emerging markets FX trader, and David Madaras, an EMFX trader focused on Asia.
Hoodless had worked at the bank since at least 2001 and Madaras since 2011.
Spokespersons for Citi in London and New York declined to comment. Calls to one of those believed to have been suspended were answered by a colleague who said the trader was not in today, while an operator was unable to put a call through to another.
It is unclear if the suspensions are related to the recent fixing investigation, which led to five banks, including Citi, paying out a collective $4.3 billion in fines for alleged market manipulation to regulators in the UK and the US.
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