NEW YORK, March 3 (IFR) - Citigroup has reorganized its foreign exchange group and local markets to combine G10 and emerging markets FX activities into a single trading business called Global Local Rates, and tapped Itay Tuchman to run it as global foreign exchange head, according to a memo obtained by IFR.
Tuchman will report to Citi's head of foreign exchange Nadir Mahmud.
Tuchman was head of the markets and securities services business for Australia and New Zealand. He was previously head of FX and G10 rates trading in Japan.
Citi also named Pankaj Vaish head of global local rates reporting to Mahmud. Vaish is currently head of markets and securities services Mexico. Both men will join Citi's foreign exchange and local market rates management team and work with the regional trading heads as equal partners.
Citi's former head of G10FX James Bindler retired. (Reporting by Philip Scipio; editing by Shankar Ramakrishnan)