Citi embarks on major shake-up

"The main strategy was to take out layers of management, effectively bringing Citi's senior managers closer to its customers," Jeff Feig, Citi's New-York based global head of G10 FX, told FX Week.

In New York, Anu Jayanti, formerly global head of sales, now runs institutional investor FX sales, including real-money investors, global leveraged fund investors and banks. This sees the departure of Philippe Illien, former head of Citi's real-money investor sales team, after 10 years with the bank