Citigroup has made changes to its commodities business, one of the most active on Wall Street.

In an internal memo, the bank said it had spilt the roles previously held by the new head of the unit Jose Cogolludo

It said Ron Ruffini had been appointed the appointed Global Head of Commodities Corporate Sales and Origination for the Public Sector, while Rick McIntire, would become Global Head of Commodities Investor Sales, in addition to his current responsibilities as Global Head of Metals Trading.

“This structure will allow us to better coordinate across the Institutional clients group to meet our clients’ needs across all key segments of our offering including risk management, financing and investor solutions”, said Mr Cogolludo in the memo.

“It will also help us consolidate the strength of our corporate and public sector platform in partnership with our colleagues from Corporate and Investment Banking while expanding our growing investor franchise through enhanced synergies with Markets.”

Citigroup recently created a new position to oversee its corporate banking activities in natural resources across Europe, the Middle East and Africa with the appointment of Marie-Christine Oliver.

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