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Citi poaches bankers for derivatives relaunch

"Citigroup has staked out its ambitions to capture business flowing from sweeping reform of the over-the-counter markets by poaching 14 bankers - mostly from JPMorgan - as the bank relaunches its exchange-traded derivatives business. The move is a sign that even as some banks have shed thousands of jobs amid anaemic trading conditions, some are hiring in anticipation of the growth of services, such as a clearing of OTC derivatives, propelled by the Dodd-Frank Act in the US and similar reforms in Europe."