Senior trader resigns after new boss from Citi goes on vacation

This is a new era at Mitsubishi UFG Securities. As we reported in April, Tim Gately, the former head of US equities sales at Citi, joined the Japanese bank as head of credit trading. 

Following Gately's arrival, people seem to be leaving. 

Get Morning Coffee ☕ in your inbox. Sign up here.

MUFG didn't respond to a request to comment, but sources say that Todd Bondy, MUFG's head of high yield bond trading resigned yesterday. Gately is understood to have left for his summer vacation last Friday.

Bondy was hired by MUFG in 2021. He previously worked for RBC Capital Markets and Goldman Sachs. When he was hired, he reported to former Credit Suisse trader Steven Feinberg, but Feinberg left in September 2022. 

Gately left Citi in the wake of a complaint by MD Ardith Lindsey that he was close to Citi MD Mani Singh, with whom she says she was in an abusive relationship. Citi denies Lindsey's claims and Gately is not directly accused of wrongdoing in Lindsey's complaint. It's not clear that his exit was related.

Bondy's destination is unclear. However, it's thought he might be joining another Canadian bank - this time, National Bank of Canada.

 Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. Signal also available.

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)