John Ream, a managing director and head of investment grade credit sales at Citi in London, has left the bank after 12 years.
Headhunters said Ream quit the bank this month. Colleagues confirmed his exit. Ream joined Citi from Goldman in 2004 and had worked in the City since 1992. His destination is unclear.
Ream's exit follows reports that Citi is planning to cut 70 jobs from its London trading units. Staff have already been leaking out, seemingly of their own accord. James Boyle, the global head of equity derivatives at Citi, left for Deutsche this week. Gaurav Gupta, head of European CLO trading, left the bank last month.
Separately, Nomura may be cutting in equities and 'gutting its US leveraged loans group' but it's still hiring elsewhere in IBD. The Japanese bank just hired Ritwik Samsi, a VP from Credit Suisse, to work in its FIG team. Samsi will covering UK and Irish financial institutions.