Citigroup Moves Trader Putcha To Help Internal Hedge Fund

Citigroup Moves Trader Putcha To Help Internal Hedge FundCitigroup Inc. (C) has moved Ramakrishna Putcha, a former proprietary trader, into an internal hedge fund that makes bets with about $200 million of the firm’s money after the portfolio slid 14 percent last year.

Putcha, 61, was named co-portfolio manager of a credit fund in the Citi Capital Advisorsunit, or CCA, according to Danielle Romero-Apsilos, a spokeswoman for the New York-based lender. For now, Citigroup owns about 97 percent of the fund and bank employees own the rest, according to a person with direct knowledge of the operation.

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