Citigroup Inc.’s global markets strategist Matt King has left the bank after 20 years as part of the firm’s cost-cutting measures.
(Bloomberg) — Citigroup Inc.’s global markets strategist Matt King has left the bank after 20 years as part of the firm’s cost-cutting measures.
King, a former global head of credit products strategy and head of European credit strategy, said in a post on LinkedIn that he was being made redundant.
A spokesperson for Citi declined to comment. He joined the bank in 2003 from JPMorgan Chase & Co., according to LinkedIn.
Citi has set aside severance for 5,000 employees so far this year, Chief Financial Officer Mark Mason said on Wednesday. The broad cuts have recently included a handful of securities services jobs in London and the global team that provides commentary and analysis on foreign-exchange markets, with departures in both London and New York.
It’s also winding down its Latin America corporate bond trading team, Bloomberg News reported earlier this month.
King, a recent guest on Bloomberg’s Odd Lots podcast, predicted earlier this year that bonds were headed for trouble as $1 trillion of central bank liquidity drains from the credit market.
(Adds context on cuts, King’s career from fourth paragraph.)
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