Senior Citigroup debt traders depart - WSJ

Thu Nov 1, 2007 2:15am EDT
 
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NEW YORK, Nov 1 (Reuters) - Two senior traders left Citigroup Inc (C.N) as part of the fallout from the company's abysmal third-quarter results, the Wall Street Journal said in its online edition on Thursday.

Michael Raynes, the company's head of structured credit, and Nestor Dominguez, co-head of its collateralised debt obligations segment, left the largest U.S. bank after the company posted its largest profit decline in three years, the Wall Street Journal said.

Representatives from Citigroup were not immediately available for comment.

Earlier this month Citigroup said its third-quarter profit fell 57 percent as losses mounted from subprime and leveraged loans, fixed-income trading and its U.S. consumer business.

A handful of executives have left Citigroup this month, including capital markets chief Thomas Maheras and co-head of fixed income Randy Barker.

A spokesman from Citigroup said earlier this month that Chief Executive Charles Prince would not resign.

The newspaper said Raynes and Dominguez couldn't be reached for comment. (Reporting by Justin Grant, editing by Greg Mahlich;)

 

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