Citi Reorganizes Prime Brokerage Unit | News | 1450 99.7 Whtc

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(Reuters) - Citigroup Inc is shuffling its prime brokerage business, according to an internal memo seen by Reuters, amid reports that the unit could lose millions on a bad loan to an Asian hedge fund. Bloomberg earlier reported that Citi faces a loss of up to $180 million related to risky foreign-exchange bets. Citi and the hedge fund are in talks on how the positions should be valued, the report said.

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