CEEMEA Emerging Markets Credit Trader
Citi · London, United Kingdom · 1d ago
Introduction to Citi Markets
Citi Markets is a global market maker across fixed income, currencies, commodities, equities, and credit products, delivering liquidity and innovative solutions to institutional clients across more than 95 countries. Our operation is uniquely global. Our client list is remarkably varied. Our product range is incredibly broad. But we’re not the finished article. We have big ambitions for the future and all the resources we need to reach them, including some of the smartest people in the industry. Within our Global Emerging Markets (GEM) franchise, Citi holds an undisputed leadership position, leveraging an unrivaled on-the-ground footprint across Central & Eastern Europe, the Middle East, and Africa (CEEMEA).
Role Overview
We are seeking a Vice President – CEEMEA Emerging Markets Structured Credit Trader to join our London EM Structured Credit Trading desk within Spread Products in Citi Markets. In this front-office revenue-generating role, you will manage a dedicated trading book and operate as a primary market-maker and risk intermediary across sovereign, quasi-sovereign, and corporate credit in more than 30 EM jurisdictions. The EM Structured Credit Trader is responsible for managing proprietary and client-facilitated risk, generating ideas, and executing across cash bonds, credit default swaps (CDS), and structured credit instruments. The desk structured and trades any credit related instruments that are not Hard currency cash bonds or vanilla CDS. It plays a central role in Citi's global Spread Product franchise, interfacing daily with Sales, Research, Structuring, Risk Management, and senior leadership. This role represents a high-impact opportunity for a commercially driven, agile trader with strong risk discipline to thrive within an open, meritocratic trading floor culture. This is a senior individual-contributor role requiring deep EM structured credit expertise, a robust client network, and a track record of consistent P&L delivery. The successful candidate will be expected to take on meaningful book ownership from day one, contribute to franchise development, and mentor junior traders and analysts on the desk.
Primary Responsibilities of the Role
Trading and Risk Management
- Own and manage a dedicated EM credit book encompassing cash bonds, CDS (single-name and index), and structured credit products across assigned EM regions (CEEMEA).
- Make two-way markets and price secondary liquidity across CEEMEA local currency corporate bonds, sovereign and quasi-sovereigns loans and less liquid Credit Default Swaps (CDS) for global institutional clients, including asset managers, hedge funds, insurance companies, and sovereign wealth funds.
- Manage desk risk exposures and inventory, proactively hedging Delta (CS01), DV01, basis risk, credit curve shifts, and cross-currency risks within authorized limits, Volcker Rule mandates, and firmwide risk parameters.
- Generate trading P&L by identifying relative value opportunities, mispricings, and structural cross-asset themes across Central Eastern Europe, Middle East/GCC, and African credit markets.
- Partner with CEEMEA DCM and Syndicate teams on loans, market soundings, underwriting, distribution and secondary market liquidity support.
Client Franchise & Coverage
- Collaborate with Sales and Structuring to originate bespoke credit-linked structured products and credit portfolio trades and expand institutional client penetration across hedge funds, real-money asset managers, and sovereign wealth funds.
- Build, deepen, and maintain relationships with key institutional clients; act as a trusted counterpart and primary contact for complex EM credit inquiries.
- Represent Citi's EM Structured Credit Trading desk at investor conferences, roadshows, and client meetings as required.
Desk Leadership and Infrastructure
- Mentor and develop junior traders, analysts, and associates on the desk; contribute to a high-performance team culture grounded in intellectual rigor and integrity.
- Drive improvements in desk tooling, pricing analytics, and electronic trading workflows in partnership with Quant and Technology teams.
- Actively engage with Risk, Finance, Compliance, and Operations to maintain best-in-class desk governance.
- Participate in talent selection processes, including junior-hire interviews and internship programme reviews.
What We Need from You
- This is not an entry level role, proven experience in fixed income credit trading experience at a top-tier investment bank, with proven experience dedicated to CEEMEA / Emerging Markets sovereign and corporate credit
- Deep product mastery of CEEMEA cash Eurobonds (high-yield and investment grade), credit default swaps (single-name and indices), SPV issued notes, Total Return Swaps, LMA loan documentation and basis trading mechanics.
- Proven P&L track record managing dedicated trading books with disciplined risk management across CS01, inventory turnover, and market liquidity constraints.
- Extensive knowledge of CEEMEA geopolitical and macroeconomic dynamics, spanning Central & Eastern Europe, GCC/Middle East, Turkey, and Sub-Saharan Africa.
- Strong technical and analytical proficiency in Bloomberg (ALLQ, FIW, RUNS), electronic execution venues (Tradeweb, MarketAxess), Python, and Excel/VBA.
- Bachelor’s or Master’s degree in Finance, Economics, Mathematics, Engineering, or a related quantitative discipline with strong collaborative and stakeholder management capabilities.
What Citi can offer you
By joining Citi London, you will receive a competitive base salary (which is annually reviewed), and enjoy a whole host of additional benefits such as:
- 27 days annual leave (plus bank holidays)
- A discretional annual performance related bonus
- Private Medical Care & Life Insurance
- Employee Assistance Program
- Pension Plan
- Paid Parental Leave
- Special discounts for employees, family, and friends
- Access to an array of learning and development resources
Alongside these benefits Citi is committed to ensuring our workplace is where everyone feels comfortable coming to work as their whole self, every day. We want the best talent around the world to be energized to join us, motivated to stay, and empowered to thrive. If you are actively working with clients, have a passion for relationships and want to be part of a successful global franchise – then apply today. This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
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Job Family Group:
Institutional Trading------------------------------------------------------
Job Family:
Trading------------------------------------------------------
Time Type:
Full time------------------------------------------------------
Most Relevant Skills
Please see the requirements listed above.------------------------------------------------------
Other Relevant Skills
For complementary skills, please see above and/or contact the recruiter.------------------------------------------------------
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