Citi's head of equities Derek Bandeen to retire: memo

[NEW YORK] Citigroup Inc's head of equities, Derek Bandeen, is retiring, according to a memo reviewed by Reuters.

Mr Bandeen joined Citi as head of equity trading in 2008 from Morgan Stanley.

He will remain with the bank until it finds a replacement, according to the memo written by Paco Ybarra, Citi's head of markets and securities services.

The news was reported earlier by the Wall Street Journal.

REUTERS