Following the sale of KCG’s DMM business, CEO at KCG said he expects headcount will not go above 950 again.
Market maker’s trading operations see strong first quarter, in sharp contrast with banks who have seen falling trading sales.
Market maker confirms its global head of FICC, Isaac Chang, has left the company.
Frank Drouet will take over as head of global markets, replacing Daniel Fields.
FICC revenues down 47% in the first quarter of 2016.
Citi’s investment banking unit revenues were down 27% in Q1 2016 compared to the same period last year.
The Bank is set to cut 675 jobs from investment banking unit in France, as cost-cutting programme gets underway.