Citigroup’s Head of EMEA Junk Trading Is Said To Leave Bank

(Bloomberg) --

Paras Shah, Citigroup Inc.’s head of high-yield credit trading for Europe, the Middle East and Africa and one of its highest-profile traders, has left the bank, according to people familiar with the matter.

The 31-year-old departed this month, according to some of the people who aren’t authorized to speak publicly and asked not to be named. Shah worked at Citi since 2017, joining from HSBC Holdings Plc where he spent six years after graduating from university, according to his Linkedin profile.

A representative for Citigroup declined to comment on the departure and Shah did not respond to a request for comment when contacted via his Linkedin page.

Shah leaves a high-performing team. Citi’s debt traders generated revenue that was more than double the forecasts of analysts. The better-than-expected performance followed weak results earlier in the year that triggered a round of cost cutting and a targeted headcount cut for the division of about 400 people.

Meanwhile, some other prominent bankers left Citi’s London credit team in May last year to take up roles at rival brokers, including high-yield trader Andrew Jarman.

©2020 Bloomberg L.P.

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