Citigroup Appoints New Head of EMEA Credit Markets Trading

Citigroup has announced that Amit Raja was promoted to become Head of EMEA credit markets trading, in addition to his current responsibilities as head of European leveraged trading. He begins in his new role immediately, according to a recent Reuters report. He replaces David Cohen, who recently retired.

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Amit Raja will oversee high-Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term trading in Europe, the Middle East and Africa after another trading executive left last year.

In his new role, he will be charged with the responsibility for all credit trading businesses in the region, a role most recently held by David Cohen, who left the bank after six years. Raja’s new tasks include commercial paper, investment grade, high yield, loans, distressed, EM credit, structured credit and credit opportunities, according to the memo.

To ensure continuity, Cohen continued to manage the investment-grade trading desk until the end of June, and was involved in the succession process.

Raja spent the past two decades with Citi, according to the UK's Financial Services Register. He will report to Carey Lathrop and Mickey Bhatia from a product perspective and Leo Arduini from a regional perspective.

The bank’s trading business, like those of rival firms, enjoyed a strong start to 2017.

Citigroup's recent results for the three months up to March 31 showed a big jump in fixed income sales and trading revenues, which doubled from a year earlier to $3.1 billion, second only to JPMorgan Chase & Co. among the largest banks.