Robertson left Citigroup in May, according to an employee at the bank in London, and the options desk has since been realigned, so an exotics head is no longer needed. However, William McGhee, a former FX options specialist at Deutsche Bank, will now take over many of his former responsibilities.
Bongartz-Renaud, a well-known industry figure and the architect of the bank’s expanding FX options business, will be "transferred to another role within the financial markets group", said a spokesperson for the bank. He declined to give the details of this role.
However, a source close to the bank said Bongartz-Renaud had been asked to be a senior manager in a new division that is being formed within the bank’s wholesale banking business. This move is connected to a number of other changes and new appointments due to take effect at the bank over the next two months, he added. In his new role, Bongartz-Renaud is expected to continue in the derivatives market. The details of these changes have yet to be finalised, the source added.