Citi restructuring claims electronic trading head Richard Evans

Citi restructuring claims electronic trading head Richard Evans

Richard Evans, Citigroup's global head of electronic trading has been made redundant in the latest round of restructuring at the struggling US bank.

Evans leaves the bank after a ten-year career, which culminated last July in his promotion to head up Citi's electronic execution business globally out of London.

The thirty-four year old was seen as a rising star in the post-MiFID European equity markets. A strong proponent of the use of smart order routing and automated trading strategies in fragmenting markets, Evans played a key role in the establishment of the Turquoise MTF and also sat on its board.

Despite Evans' shock departure, Citi insists that the bank remains "strongly committed to the electronic execution business".

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