(Bloomberg) —Citigroup Inc.s head of equity trading, Derek Bandeen, will leave after almost eight years at the firm.
Bandeen, 53, joined the bank in May 2008, New York-based Citigroup said Friday in a memo to staff.
Citigroup has been shoring up its equities business this year, hiring Armando Diaz, the former head of execution services at hedge fund Millennium Partners, to run equities cash trading in March. The bank also added two derivatives veterans, Dirk Keijer and Quentin Andre, from Goldman Sachs Group Inc. for senior sales roles in the stock-trading unit.
Derek leaves the business in a strong financial condition and poised to grow into one of the core franchises of our markets and securities services business, Paco Ybarra, head of markets and securities services, said in the memo.
Bandeen will stay at Citigroup while the bank looks for a successor, according to the memo.
