Citicorp has named Julian Simmonds to head its derivatives business, replacing Junaid Rubbani, who resigned.

Mr. Simmonds, head of the bank's foreign exchange operation since 1994, will report to Ernst Brutsche, head of Citicorp's trading and capital markets group.

Before taking the derivatives post, Mr. Rubbani was head of the bank's foreign exchange operations, the largest among U.S. trading banks. The bank's derivatives operation, excluding foreign exchange, ranks fourth among U.S. banks.

The changes at the top have also led to changes elsewhere at Citicorp. Guy Whittaker will replace Mr. Simmonds as head of foreign exchange. A 16- year veteran with the bank, he was formerly head of foreign exchange and trading in the United Kingdom.

The bank also named Tom Bergen to head its worldwide futures operation and to head the treasury operations in North America, Europe, and Japan. Mr. Bergen was head of funding and futures in North America before the promotion.

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