Reports over the weekend revealed Citigroup has parted ways with Richard Evans, its London-based head of electronic trading, as part of its massive restructuring.
Evans (not to be confused with the 47-year-old Richard Evans who was appointed Citi’s new chief risk officer in its institutional clients group last April), was a 10-year veteran at Citi who at 33 was elevated to the post in July 2007 in the salad days of Citi’s grand expectations for the electronic executions business being one of its fastest-growing segments.
At that time, Evans was pegged to lead product development and distribution in direct market access (DMA), agency program trading, Citi subsidiary Lava Trading's smart order routing technology, transaction cost analysis (TCA) and Citi's OpenPort EMS product strategy.
Despite his departure, the bank remains “strongly committed to the electronic execution business," according to reports.
