Simmonds’ surprise retirement

When Julian Simmonds, global head of foreign exchange and structured products businesses at Citigroup, announced his decision to retire this May, it sent shockwaves through the bank. Senior executives are thought to be trying to talk Simmonds, who joined Citibank in 1972 and achieved prominence by building its forex business into the undisputed market leader in the 1980s and 1990s, into hanging round a little longer. "No one event has prompted my decision," Simmonds tells Euromoney. "But 29 years is a long, long time in a high pressure position. I have outside interests, as has my wife and I'd like to participate in those with her."