Citigroup is combining its emerging-markets credit group and its global credit-trading business, bringing together traders who focus on the global credit markets, the Wall Street Journal reported in its online edition on Monday, citing an internal memo.
The combined group will be headed by Carey Lathrop, who led the emerging-markets business, the Journal said.
Lathrop succeeds Jim Higgins and Dave Pichler, two longtime traders who ran the global business and who will be leaving the bank, the report said.
The Journal said it was unclear if the move was related to the recent turmoil in the credit markets.
Citigroup spokespersons were not immediately available for comment.