A high-profile and well-respected member of the European trading industry has left Citi's electronic trading team amid a round of redundancies that took place at the bank last week, Financial News has learnt.

Sources familiar with the matter said Jack Vensel, global head of wholesale services at Citi, departed the US bank last week, after nearly four years working at the company. His exit comes as Citi undertakes a large-scale programme to reduce its headcount across all areas of its investment banking business.