FX Week

CitiGroup Rationalizes Trading Desks In London And New York

BANKS

LONDON--CitiGroup has restructured its global spot FX business, with the loss of seven staff between London and New York, confirm officials.

"Citibank Foreign Exchange has completed a global review of its spot business following the launch of the euro, the merger with Salomon Smith Barney, and an analysis of the interbank profile required to support CitiFX's client activity," according to a formal statement given to FX Week by the bank.

The review has involved the loss of five spot trading st