Change afoot at Citi FXPB
December 19, 2018
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An internal staff memo from Nadir Mahmud (Global Head of Foreign Exchange and Local Markets) and Okan Pekin (Global Head of Prime, Future and Securities Services) details briefly organizational change at Citi foreign exchange prime brokerage.

"In an effort to integrate all our Prime financing businesses under a single umbrella, the Foreign Exchange Prime Brokerage business (FXPB), currently a part of FXLM, will now realign to join Prime Finance and Securities Services (PFSS)," it reads.

"Bringing our market-leading FXPB team into PFSS will position us to unlock synergies across all markets products and ensure our clients are supported seamlessly for their important financing, operational and transactional needs.

"As part of this re-alignment we have asked Chris Perkins to lead FXPB alongside his current role in running our OTC Clearing business. As foreign exchange markets continue to push towards capital and operational efficiency, combining both industry leading teams in clearing and prime services will allow a focus on ongoing changes in market structure and ensure that our clients are supported through this evolution.

"In his expanded role, Chris will continue to report to Jerome Kemp and FXPB will be part of the global FCC product organization."





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An internal staff memo from Nadir Mahmud (Global Head of Foreign Exchange and Local Markets) and Okan Pekin (Global Head of Prime, Future and Securities Services) details briefly organizational change at Citi foreign exchange prime brokerage.

"In an effort to integrate all our Prime financing businesses under a single umbrella, the Foreign Exchange Prime Brokerage business (FXPB), currently a part of FXLM, will now realign to join Prime Finance and Securities Services (PFSS)," it reads.

"Bringing our market-leading FXPB team into PFSS will position us to unlock synergies across all markets products and ensure our clients are supported seamlessly for their important financing, operational and transactional needs.

"As part of this re-alignment we have asked Chris Perkins to lead FXPB alongside his current role in running our OTC Clearing business. As foreign exchange markets continue to push towards capital and operational efficiency, combining both industry leading teams in clearing and prime services will allow a focus on ongoing changes in market structure and ensure that our clients are supported through this evolution.

"In his expanded role, Chris will continue to report to Jerome Kemp and FXPB will be part of the global FCC product organization."



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