Citi Hybrid Chief, Team Out, In Talks With Hedge Fund

Dec 9 2011 | 11:43am ET

A group of Citigroup hybrid traders are in talks to join a hedge fund after the bank imposed cutbacks on the team linked to a $383 million lawsuit filed by a Saudi Arabian family.

Citi's former head of hybrid trading, Samir Mathur, is leading a six-strong team leaving the bank. Mathur is currently in talks with a hedge fund about bringing the team on, Bloomberg News reports.

The cuts in hybrid trading are part of Citi's plan to slash 4,500 jobs globally, including 900 in trading and investment banking.

Mathur's team focuses on hybrid derivatives. One such deal, on behalf of Saudi investor Ghazi Abbar, turned sour, losing almost all of Abbar's family fortune and leading to an arbitration claim against Citi.

In addition to Mathur, the traders leaving Citi are Sean Corrigan, Vivek Kapoor, Eric Kim, Allison Niiya and Yontcho Valtchev.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note