He worked within the Citi Transaction Services business and was a managing director based in New York.
An individual within Citi confirmed Avitabile’s departure in a telephone conversation on April 14.
A media spokesperson for Citi declined to comment.
He started his career at Citi in 1994 as product manager for European securities lending in London. Avitabile later took on the position of global head of equity trading for the bank’s agency securities finance programme before moving on to lead product strategy and development.
His most recent role has involved identifying and capitalising on new opportunities in the changing market environment. Avitabile was also responsible for client management was a primary focus on aligning Citi’s client goals with its product strategy. Before Citi he had held various management positions in securities lending at the Banker’s Trust.
Avitabile has worked in the securities lending industry since 1982 and regularly speaks at industry conferences globally. One notable example was his appearance on the 2009 securities lending roundtable held by the US Securities and Exchange Commission.
Avitabile is still listed on the US-based Risk Management Association’s (RMA) website as a member of its securities lending committee.