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Report: Citigroup shuts down Citi Credit Opportunities desk

Citigroup Inc. is shutting down its Citi Credit Opportunities team, which made loans to small and midsize firms, Business Insider reported.

John Peruzzi, who headed the $1 billion principal-investing desk, has left the bank. Additionally, some members of his team are leaving the firm, while others are being reassigned to other teams, people familiar with the situation told the news outlet.