Citigroup Restructures Global Rates Team with Sharper Focus on Japan Market

Citigroup is reshaping its regional rates business to focus on Japan’s volatile non-linear rates market, appointing Thomas Reich to lead the Japan desk exclusively. Richard Yang will now serve as sole head of non-linear rates trading for North America and EMEA. The move follows heightened market swings in Japan’s yen rates and growing demand for tailored trading expertise. Separately, Citi has brought in Tom Prickett from JPMorgan Chase as head of EMEA G10 rates in London, adding to recent key hires including Paul Glezer, now leading systematic trading. The restructuring aligns with Citi’s broader strategy to capitalise on global volatility and deepen regional specialisation.