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Foreign Exchange

Citi announces raft of FX promotions

Citi has made a series of promotions across its FX business, a move which comes after the bank paid out its annual bonuses last week.

In FX options, London-based Mohammed Khalil, Shamyl Malik and Omer Suleman, along with New York-based Eric Shaffer, have all been promoted from vice-president to director. In FX institutional sales, Madrid-based Inigo Deus has been promoted to director, while London-based Paul Brennan has been promoted to vice-president.

In FX corporate sales, London-based Craig Chandler and Damien Dumont, who is based in France, have been promoted to director, while Paul Hollick and Dan Wilson have been elevated to vice president.

In the 2011 Euromoney FX Survey, Citi held on to fourth position with an 8.88% market share. It was the world’s leading provider of FX services to non-financial institutions.

Citi, which last week launched Velocity 2.0 – the latest version of its single-dealer platform – in a bid to increase its market share by volume, expects to do better in this year’s Euromoney FX Survey.

Anil Prasad, Citi’s global head of FX and local markets, said last week that Citi’s trading volumes had accelerated faster than the market average, rising 40% in 2011, against an average of 10% elsewhere.

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