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Citi hires EM options trader

Citi has hired a former RBS emerging market options trader, according to people familiar with the situation.

Daniel Mitchell is set to join the US bank in London, where he will take up a similar position to the one he had at RBS. Mitchell, who resigned from RBS on August 7, will report to Chirag Patel, head of FX options for Central and Eastern Europe, Middle East and Africa at Citi, the sources say.

Citi was the star performer among the large FX banks in this year’s Euromoney FX Survey, rising two places to second in the overall standings and taking its market share from 8.86% to 12.26%.

For options in Central and Eastern Europe, Middle East and Africa, Citi rose from ninth to fourth, with the bank’s market share climbing from 2.01% to 8.73%.

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