Citibank Consolidates European Operations Taps Smith To Head European Derivatives Group

In its continuing effort to centralize its European operations, the London branch of Citibank has named Michael Smith to head its newly created structured derivatives group. Smith's unit will be responsible for managing all of Citi's derivatives products, which have maturities of two years or longer, sources at the bank say.

Some of the products the group will manage are medium-term foreign exchange forwards, as well as currency, equity and interest rate options. Prior to this assignment, Smith