Citibank New York Mulls Restructuring Unit Non-Dollar Products Priced From London?

Officials at Citibank in New York are currently trying to decide whether it should transfer certain non-dollar derivative products to its London office. Under the proposal, the London branch would manage all of Citibank New York's foreign currency interest rate options exposure and New York would handle the marketing activities.

"I am contemplating creating synergy by having London and New York put their books together," says Dipak Rastogi, a division executive in charge of the derivatives