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Citi’s FX Head to Retire

Citi confirms that James Bindler, global head of G10 FX at
the bank, is retiring.

Profit & Loss understands from sources that Itay Tuchman,
currently head of markets for Citi in Sydney, is moving to London to take the
reins of the business, however the bank was unable to confirm this.

Bindler has
been with Citi since 1990, having joined from Midland Bank in New York, where he started in 1982. Since 2000 he has been based in London and he has been a member
of the Bank of England’s Foreign Exchange Committee since 2008. Bindler has
been a member of the working group developing the Global FX Code under the
supervision of the BIS.

“I’ve seen
the business evolve from telex machines to ultra-fast computer trading while
having a front row seat to economic and political events all over the world,”
says Bindler. “Along the way I have had the fortune to meet presidents,
prime ministers, central bank chiefs and many, many interesting and intelligent
people.  I will always be grateful for the opportunities that working for
Citi have given me.”

In an
internal memo, Nadir Mahmud, head of FX and local markets at Citi, says, “James
has decided to retire from the business in order to pursue his passion for
academics and return to university life. James has been a key member of
the FXLM Management team since the inception of FXLM in 2004 and has made an
enormous contribution in leading its success and shaping the overall

2014, as global head of G-10 FX, James has been instrumental in growing
revenues while also strengthening our conduct risk management frameworks,
during a time when there was enormous pressure from all stakeholders,” Mahmud
continues. “James was enmeshed in the fabric of FXLM and enshrined our very
best values. His presence will be greatly missed. We all thank him for his
many years of service and commitment to Citi, and wish him the very best in the
pursuit of academic excellence.”

Twitter @lamboPnL


Colin Lambert

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