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Report: Citi head of US high-yield trading leaves

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Report: Citi head of US high-yield trading leaves

's head of U.S.high-yield trading, James Nessel,has departed, Reuters reported March 29, citing "sources familiar with themove."

Bloomberg Newson the same day reported on the move, as well as that of Gaurav Gupta, who issaid to be departing from the bank, according to "people briefed on theirdepartures."

Gupta ranthe European business for trading collateralized loan obligations, Bloombergreported. Gupta will stay for a few weeks to oversee the transition and will bereplaced by Vitaliy Kozak, one of the sources told the news agency.

Another sourcetold Bloomberg that markets division managers were recently asked to identifyjunior employees they could afford to lose.