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Citigroup puts senior FX dealer in London on leave -source

LONDON, Oct 31 (Reuters) - Citigroup has put its head of European spot currency trading in London, Rohan Ramchandani, on leave, as a global investigation into possible manipulation of foreign exchange rates gathers steam, a source familiar with the matter said on Thursday.

The move was mutually agreed on Wednesday and the development mirrors similar moves in London at JP Morgan and Standard Chartered.

Reuters reported this week that JP Morgan's chief dealer Richard Usher and Matt Gardiner, a senior trader at Standard Chartered, had also been put on leave.

Ramchandani remains a full-time employee at Citi and has not been suspended, nor has he been accused of any wrongdoing, the source said.

Ramchandani could not be reached for comment, and Citigroup declined to comment.

He is not listed on the UK Financial Conduct Authority's register, but not every financial market trader needs to be registered.

Ramchandani is listed, however, as one of the 13-strong members of the Bank of England's Joint Standing Committee's chief dealers group as at the end of last year.

A spokeswoman at the Bank of England declined to comment on whether he was still on that committee.

Britain's FCA has begun a formal investigation and the U.S. Justice Department this week confirmed that criminal and antitrust authorities were involved in an "active, ongoing investigation" into possible manipulation in the $5.3 trillion-a-day-global FX market.

They are cooperating with other regulators around the world.

Citigroup is one of several banks co-operating with regulators in their investigations. Earlier this week Deutsche Bank, UBS and Barclays confirmed they were also cooperating.

Royal Bank of Scotland said on Wednesday it had sought to reassure clients about the foreign exchange rates they were being offered and rival Barclays said it was cooperating with regulators scrutinising the market.