Citigroup (C) is closing its Costa del Sol office in Malaga, Spain, as part of efforts to streamline operations, Bloomberg reported Wednesday, citing a statement from the bank.
The lender said Madrid is its primary location in Spain where it employs more than 220 workers who are not being impacted by the closure of the Malaga office, according to the report.
The company told Bloomberg that some analysts working in Malaga might be relocated to Paris or London, and that six analysts are expected to depart the bank.
Citigroup didn't immediately respond to a comment request from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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