Citi raids UBS to target banks

In a major coup for the Swiss dealer, Citi has hired Bruno Widmer, global head of foreign exchange, banks, at UBS in London. Widmer is thought to be bringing his team of five with him.

Widmer has a long history at UBS, having played a significant role in developing its reputation as the bank for banks in FX. In recent years, he has moved quickly up the ranks, taking on a series of senior roles, including European head of FX banks, a role that was rolled into his wider responsibilities when he