June 17, 2014 / 1:16 PM / 4 years ago

Citigroup foreign exchange chief Feig leaving bank

NEW YORK, June 17 (Reuters) - Citigroup Inc’s global head of foreign exchange, Jeff Feig, is leaving the bank.

Feig’s departure was announced to employees on Tuesday, according to a report by the Wall Street Journal, which said Feig had been Citigroup’s forex chief for 10 years.

A Citigroup spokeswoman said in a written statement after the report, “Given his tenure in his role, this departure was well-anticipated, and part of the natural cycle of the business. We have a strong, talented bench that continues to support this core business.”

Feig’s departure comes as Citigroup and other major banks have dismissed foreign exchange traders amid investigations by governments around the world into possible manipulation of those markets. (Reporting by David Henry in New York; Editing by Meredith Mazzilli)

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