One of the largest managers dismissed by Citi

In the course of the restructuring policies being performed in the largest US bank Citi, Richard Evans, Citigroup's global head of electronic trading was dismissed as a redundant unit after ten years of working with the company. Last July his career saw a promotion to head up Citi's electronic execution business globally out of London.

The post-MiFID European equity markets regarded Evans, a 34 year old specialist, as a rising star. He was a strong advocate for the use of smart order routing and automated trading strategies in fragmenting markets and played a key role in the establishment of the Turquoise MTF having a seat in its board.

Meantime, Citi claims that the bank still remains "strongly committed to the electronic execution business", thus pointing out to the fact that Evans' shock departure won’t impact on the performance this area.