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Foreign Exchange

Citi beefs up CEEMEA FX trading and sales; reveals host of hires

Citi has made a series of hires in Central and Eastern Europe, Middle East and Africa (CEEMEA) FX trading and sales.

Daniel Mitchell has joined as an options trader in London, and will report to Chirag Patel, head of CEEMEA and G10 FX options trading at Citi. Mitchell joins from RBS, where he worked for 11 years. He ran the CEEMEA options book at RBS from 2009, and before that led the LatAm flow desk from New York for two years. Mitchell’s first role at RBS was developing FX options risk-management software but he moved into trading in 2005, first running the second-generation EM options book and then first-generation CEEMEA exotics.

Patel believes Mitchell will play a prominent role in building the CEEMEA options business.

“The development of these instruments in the region has been impressive over the last few years, and Citi is, and will remain, at the forefront of it,” he says.

There has also been a series of additions to Citi’s FX sales team in Europe.

Elan Bassier has joined structured FX investor sales in Zurich from Deutsche Bank. In this role, he will focus on the sales and marketing of index and managed account products.

Johan Holmstrom recently started at Citi in covering Nordic investor sales and was previously at Barclays, while Vishal Sawhney this week joined the hedge fund sales group from RBS. Both are London-based. Bassier, Holmstrom and Sawhney report to Alex Jackson, head of investor sales in Europe.

In addition, Nihel Bensenane has been added to the bank sales group in London, and will assume coverage responsibility for banks, central banks and sovereign wealth funds across the MENA region. She was previously at Credit Suisse in Dubai.

Citi climbed two places to rank second in this year’s Euromoney FX Survey, improving its market share from 8.86% to 12.26%. In CEEMEA, Citi climbed three places to third, taking its market share to 12.08% from 6.35%.

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