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Report: Citigroup dissolves US high-yield debt research team

Citigroup Inc. is dissolving its U.S. high-yield debt research team, with members of the group either departing the company or transferring to other positions, Bloomberg News reported, citing people familiar with the matter.

News of the disbandment comes amid the bank's reported plan to cut its trading division workforce.

Managing Director Manish Somaiya, David Phipps, James Yoon and Bill Henry will be departing from the bank, according to the news outlet.