Now two senior DCM bankers resigned at Citi in Dubai

As we noted here last month, Citi's debt capital markets (DCM) bankers do not seem happy and have been leaving. This month, the exits are continuing.

Iman Abdel Khalek, Citi's EMEA head of DCM has resigned. So too has Zain Zaidi its head of UK, Europe and MEA loans products. 

Citi isn't commenting. The resignations follow this of Divyen Patel, a director on Citi's European DCM syndicate desk, Edward Jamie, a vice president (VP) on the UK and Irish debt financing team and Eve Lozano Doncel, another VP on the DCM team in London

Abdel Khalek was one of the beneficiaries of Citi's 2024 restructuring, when her co-head vanished and she became sole head of Citi's CEEMEA DCM business. It's thought that she's resigned to join SMBC.

The reason for the latest exits isn't clear but both Khalek and Zain had been loyal to Citi until now. - Zain joined in 2007 after graduation; Khalek joined in 2015.

There are suggestions that Citi's DCM bankers are unhappy with their new leadership. Achtinya Mangla, the former JPMorgan ECM banker appointed by Vis Raghavan to run all capital markets at Citi is said to be increasing the pressure on the business, and people are grumbling that bonuses were not the best. 

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