Citi promotes within for European credit trading head

Citi has promoted Amit Raja to the role, following the departure of Fred Jallot to Nomura in April.

Citi has promoted one of its most senior traders to head up its European credit markets business, following a number of moves in a bid to beef up the unit.

Amit Raja has been named EMEA head of credit markets trading, reporting to Carey Lathrop and Mickey Bhatia, Citi’s global co-heads of credit markets, as well as Leo Arduini, EMEA head of markets, according to a memo seen by The TRADE.

In his new role, Raja will have responsibility over its credit trading business in the region, which includes commercial paper, investment grade, high-yield, loans, EM credit, and structured credit trading.

According to the memo, Raja will also be responsible for identifying synergies between individual trading products.

He will work alongside Cedric Pauwels, Citi’s head of European credit and rates sales, “to define and execute the client strategy for our credit franchises in Europe,” the memo said.

Raja joined Citi in 1997, starting in the capital markets business, before moving to credit trading in 2009. He was most recently global head of distressed trading.

He replaces Fred Jallot, who left the US bank in April to join Nomura as head of its global markets division for Europe.

The promotion follows a string of hirings within Citi’s credit teams, in which it most recently hired Toby Ali from Bank of America Merrill Lynch, and Simon Francis from Credit Suisse, as co-heads of EMEA leveraged finance.