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ON THE MOVE: Selway Tweets Exit; Citi Loses Diaz, Kang and Ridd

Traders Magazine Online News, March 13, 2018

John D'Antona Jr.

Jamie Selway, ITG's head of market structure, tweeted his departure from the firm last week. In the tweet he said, “...I moved on from ITG. I leave with my heart full and head held high. I am particularly grateful for my partners, who globalized POSIT Alert, revitalized our algorithms, created a multi-asset strategy, and helped the company through challenging times. To clients, industry colleagues, and friends, I wish you well — and will see you soon." Selway’s pedigree as an expert on equity market structure, is well known throughout Wall Street. Selway co-founded broker White Cap Trading in 2003 and was on the board of directors at exchange operator Bats Global Markets from 2008 to 2015. He has also been a contributor for Traders Magazine.

Jamie Selway, ITG

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Citi has seen some high-level departures in the last two weeks. First, Sebastian Ridd, who had been head of program trading and cash trading in the US at Citigroup, has joined giant hedge fund Millennium Management. His departure from Citi, comes as global head of cash trading Armando Diaz has also decided to leave the firm. Diaz, who was hired in 2016 to revive Citi's moribund global cash trading business, is leaving after his second stint at Citi. He ran US institutional cash trading at the firm up until 2011, when he left to join hedge fund Millennium Management. He also spent two decades at Goldman Sachs.

And lastly, Young Kang, Citi's head of electronic cash trading in the US, has left the firm, according to people familiar with the matter. Additionally, Peter Lambrakis, formerly the US head of equity derivatives, is taking on an expanded role in the equities division as part of a strategic review Citi is conducting.

Armando Diaz, Citi

Bank of America Merrill Lynch has promoted Kim Stolz, a managing director who was previously based in London as the head of equity derivatives hedge fund sales for EMEA, to take over as head of prime-brokerage sales in the Americas, according to people familiar with the matter

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