Paul Williams, former head of the firm's equities division, will retire.

The workers, who operate within the equity division, are now paid on a commission-based system.

He was responsible for trading a broad range of stocks within the equities division.

The equities division at Citigroup has also suffered in comparison with its competitors this year.

Performance within the equities division started the year strong, but lagged as the year wore on.

They will have the title of co-heads of the firm's equities division.

The equities division of the bank has been a weak financial performer and an area of interest for regulators.

Heads of institutional equities divisions at the investment banks are saying I can't afford to pay for research.

Guosen's asset management arm is also the first company to offer equity division advisory services among Chinese rivals.

It took place in the equities division and in the equity capital markets group.