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Citi to cut traders' bonuses after a weak year-end

Citigroup is said to have planned as recently as mid-December to keep the bonus pool unchanged from 2013.

New York

CITIGROUP Inc reduced the bonus pool for fixed-income and equities traders and salespeople after their division's lacklustre performance in the final weeks of the year, according to a person briefed on the matter.

The bonuses will drop 5 per cent to 10 per cent on average...

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