European Collateralized Loan Obligation; CLO) Trader, AVP​/VP

About Citi Markets

Citi's Markets business is one of the world's leading providers of financial products and services across fixed income, currencies, commodities, equities, and structured credit. Within Markets, the Securitized Products Trading team operates at the forefront of structured credit, providing clients with access to a broad range of asset-backed and structured finance instruments. The European CLO desk sits within this franchise and plays a central role in Citi's ability to deliver liquidity, risk management solutions, and market-making capabilities to a sophisticated institutional client base across Europe.

This is a AVP/ Vice President-level trading role within Citi's European Securitized Products Trading team in London, with a specific focus on Collateralized Loan Obligation (CLO) mezzanine and equity tranches. The individual will be responsible for managing a trading book, generating revenues, and contributing to the development of Citi's CLO franchise across Europe. This is a role for an experienced structured credit professional who can operate with a degree of autonomy, engage directly with clients and counter parties, and work collaboratively across Sales, Research, and Risk to build a sustainable and growing business.

The European CLO market has seen record issuance volumes in recent years, and this role sits at the centre of that activity.

• Manage and develop a CLO trading book, with a primary focus on European CLO mezzanine and equity tranches; execute trades, manage risk positions, and deliver on budgeted revenue targets with disciplined risk management and sound commercial judgment.
• Build and maintain client and counter party relationships, anticipating demand across the CLO capital structure, facilitating large institutional trades, and acting as a credible and trusted market presence for investors, CLO managers, and other key participants.
• Coordinate closely with Sales, Research, Structuring, and other internal stakeholders across Markets and Securities Services to develop the franchise, support primary CLO transactions, and identify secondary market opportunities.
• Lead governance and controls responsibilities in partnership with Legal, Compliance, Market and Credit Risk, Audit, and Finance; uphold Citi's Code of Conduct and the Plan of Supervision for Global Markets and Securities Services, and ensure all risk/reward assessments reflect appropriate consideration for the firm's reputation.
• Mentor and support junior members of the trading desk, providing guidance on trade execution, market analysis, and professional development, while contributing to a culture of accountability, transparency, and responsible finance.
• Monitor and analyse CLO market dynamics, including collateral quality, tranche valuations, coverage tests, waterfall structures, and macro credit trends, translating insights into actionable trading decisions and strategic recommendations for the desk.

• Proven experience in a structured credit or CLO-related trading, portfolio management, or syndication role at a financial institution, with demonstrable experience managing or contributing to a trading book.
• In-depth knowledge of CLO structures, including mezzanine and equity tranche dynamics, waterfall mechanics, overcollateralisation and interest coverage tests, and the broader European leveraged loan market that underpins CLO collateral pools.
• Proven track record of client engagement and franchise development, with the ability to identify counter parties, pitch trade ideas, and build lasting relationships with CLO managers, institutional investors, and other market participants.
• Strong analytical and quantitative capability, including proficiency…