Citi continues equity derivatives reshuffle

Following the departure of Citi's global head of equity derivatives, Joe Elmlinger, two of the bank's regional heads have also left their posts.

Luke Randell, London-based head of equity derivatives for Europe, the Middle East and Africa, is returning to Australia as head of equities for Australia and New Zealand. Before working in the UK, he worked in Australia for three years as head of equity derivatives for Australia and New Zealand.

Citi has no plans to replace Randell and those who had reported to him will now report directly to senior staff in trading, sales and operations. These include Derek Bandeen, London-based global head of equities trading, Mike Pringle, head of equities trading for Europe, the Middle East and Africa, and Jim Cowles, head of global equities products.

Meanwhile, Paul Darwell, head of equity derivatives for Australia and New Zealand, has retired. Paul Sanger, previously head of cash equities trading, has become the head of all equity trading in Australia. All Australian equity derivatives trading functions will report through to Sanger.

Part of Citi's equity derivatives services will be delegated to a recently formed global retail structured products unit under Richard Burns, the bank's London-based former head of equities structured products.

See also: Elmlinger exits Citi
Citi creates retail structured products group