Citigroup has made two changes to its global fixed income and emerging markets sales and trading teams. In a move described by Citigroup as aligning its regional management structure with the perceived business opportunities in the region, John Pitfield and Chris Willcox will now assume different responsibilities.
Citi's decision to combine its regional debt capital markets function into a single team moves Pitfield to the head of local currency DCM for Asia. He will report to Aamir Rahim, co-head of Asia debt markets in the global fixed income group and will also continue a reporting line to Sim Lim, Citi's head of EM sales and trading.
Willcox will continue to oversee the bank's G10 foreign exchange business in Hong Kong, while also looking after the Hong Kong G7 derivatives trading, sovereigns, agencies and supernationals trading and CDO businesses.
He will also assume responsibility for the Hong Kong global rates and currencies trading businesses, while continuing his management coverage of Australia, New Zealand, Singapore and the bank's non-JV businesses in Japan.
Citigroup recently recorded excellent results in syndicated loans, local currency bonds and G3 bond issuance in a financial league table.
"This is another significant step in integrating our Asian local and global fixed income business," says Jeremy Amias, managing director and head of the global fixed income business in Asia-Pacific. "This will enable better coordination of coverage and resources for our client-facing business."