Citigroup has promoted a Sydney-based trader to the new role of head of equity derivatives in Europe, following a summer of churn within its global equities business.

David Haldane will now run the US bank's equity derivatives franchise in Europe. In the newly-created role, Haldane will be tasked with growing Citi's regional business, including flow, exotics and corporate equity derivatives, according to an internal memo seen by Financial News.