Citigroup staff cuts hit derivatives desk in London

Citigroup, which is to make 50,000 job cuts globally, has started cutting staff from its equity derivatives desk in London.

The most senior departure was Alberto Cherubini, head of exotic equity derivatives trading, who elected to take voluntary redundancy, according to a source close to the bank. Citigroup has also cut two more junior traders on the vanilla, or traditional, trading desk.

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