Citigroup in London has appointed Doug Welch, head of German institutional derivative sales, in a new role as head of institutional derivative sales for Central and Eastern Europe, the Middle East and Africa. It has also named single-stock trader Bill Beller as responsible for emerging markets volatility trading.
According to an official familiar with the reorganization, the focus of the reshuffle is to develop derivatives business in Russia, South Africa and Poland. These countries in particular are perceived as having a growing equity presence, he added. Beller and Welch confirmed the moves, declining additional comment.
