Salomon Smith Barney named Paul Matthews the head of global bond arbitrage, succeeding Costas Kaplanis, who said he would resign at the end of this month.
Mr. Matthews, 38, has been deputy head of European arbitrage since earlier this year. He is a native of New Zealand with a doctorate in mathematics. He joined Salomon Brothers in 1986.
The appointment was announced Tuesday in an internal memorandum from Michael Carpenter and Victor Menezes, the co-heads of corporate banking at Salomon's parent, Citigroup.
A spokeswoman for Salomon in London said Mr. Kaplanis, who is 39, began telling colleagues about his plans to depart the company last spring. Mr. Kaplanis joined Salomon in 1985.
Salomon has been scaling back its arbitrage activities since it was acquired by Travelers Group last year.