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

Dec 9 2011 | 12:43pm 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: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of