The co-heads of global equity finance and prime brokerage have left Citigroup as more lay-offs are expected at the bank in New York, and have been replaced by a single global head based in London.

Ali Hackett and Tom Tesauro are leaving to pursue other opportunities, according to a Citigroup memo from Steve Bowman, head of hedge fund services. The memo said management changes were being made to continue growth in revenue and market share and meeting clients' needs.