LONDON: US bank Citi has cut around 35 jobs across its capital markets trading operation in London, sources with knowledge of the changes said yesterday.
The cuts, announced internally last month, were across all asset classes, the sources said, and included head of G10 currency strategy Valentin Marinov.
High-earning jobs on trading floors have been squeezed by the growth in machine-driven trading and broader cuts at banks since the 2008 financial crisis, and lenders are also putting aside billions against the cost of litigation over charges they manipulated currency and interest rate markets.
Citigroup Inc said when it published third quarter results last month that it was pulling out of consumer banking in 11 markets, including Japan and Egypt, as it seeks to cut persistently high costs
DUBAI: Dubai Aviation Corp, known as flydubai, has launched a $500m five-year sukuk at the tight end of its previously-marketed price range, with the sale set to complete later yesterday, a document from lead managers said.
The sukuk pricing was last revised to between 200 basis points and 212.5 basis points over midswaps, after being marketed initially at 225bps over the same benchmark on Tuesday.
Credit Agricole, Dubai Islamic Bank, Emirates NBD, HSBC, National Bank of Abu Dhabi, Noor Bank and Standard Chartered are arrangers for the sukuk sale by the unlisted carrier, fully owned by the Dubai government.
Agencies
