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Citi cuts set to hit electronic team

Banks are being forced to re-engineer their equities businesses amid dwindling buyside commissions

Two long-standing members of Citigroup's equities sales force could be set to leave the US bank, as plans to cut nearly 2,000 members of its investment banking division begin to take effect.

Philip Green and Chris Norris, who work as sales traders within Citi's electronic franchise, have been told this week their positions are at risk, according to three sources familiar with the situation.

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