Citi Merges Electronic and Portfolio Trading Teams Under Flow Credit Restructure

Investment bank Citi has combined its electronic and portfolio trading teams in the US as it looks to centralize its risk taking across global spread products, according to a story in The Trade news. Known as GSP Quantitative Trading, the new unit will merge the beta, electronic, automated trading (BEAT) business with portfolio trading, focusing on market making and risk taking in algo trading, ETF create-redeem, fixed income ETF trading and portfolio trades in spread products. GSP Quantitative Trading will be co-headed by Peter Chalif, co-head of global BEAT trading, and Derek Hafer, global head of spread products portfolio trading. Jay Mann, co-head of GSP algo, market making and electronic trading, will lead the new division’s platform sales team working with the trading team.