A team of Citigroup Inc. derivatives traders generated about$300 million of revenue this year, thriving from serving companiesand investors trying to anticipate central bank decisions,according to people with direct knowledge of the matter.

The windfall was produced by the bank's U.S. dollarinterest-rate swaps desk led by Geoff Weber in New York, accordingto the people, who asked not to be identified because the firmdoesn't break out results for such businesses. The group includesDan Leadbetter, Daniel Gottlander and Mark Zaguskin, one personsaid.

The team's performance demonstrates that traders can still makeoutsize profits even after regulators sought to curb risk-taking inthe wake of the financial crisis. Another example: Goldman SachsGroup Inc. trader Thomas Malafronte earned more than $100 millionby scooping up cheap junk debt early this year.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.