Citi makes head of electronic trading redundant

More jobs are going in the City

Troubled US bank Citi has made its global head of electronic trading redundant following an announcement earlier this month that it would cut about 52,000 jobs worldwide.

London-based Richard Evans departs after a 10-year spell at the financial services giant, which had promoted him to lead its global electronic execution business last July.

During his career at Citi, Evans led the bank’s development and distribution of product verticals including direct market access, agency programme trading, Citi subsidiary Lava Trading's smart order routing technology and transaction cost analysis.

Evans’ redundancy follows the news that the chief information officer of Citi’s UK consumer division, Robin Young, has decided to leave the business after 18 months of integration work following the acquisition of online bank Egg, revealed by Computing last month.

Young has left the bank to work on a major UK integration programme starting in 2009 and has an option to take either "gardening leave" or continue supporting the ongoing integration work of Citi and Egg.