| March 13
March 13 Citigroup Inc has hired Tom
Regazzi as its new head of prime finance for North America,
according to an internal memo.
Regazzi, who had worked at UBS for the past six years as
head of synthetics equity trading, is the latest senior hire
from Citi as it tries to bolster its equities business.
A Citi spokesman confirmed the contents of the memo.
Citi, which has traditionally been known as a bond
powerhouse, has been investing in its smaller equities trading
unit over the past several years by building out its prime
brokerage and bespoke derivatives businesses to cater more to
hedge fund clients.
Last May, Citi named Dan Keegan and Murray Roos as co-heads
of global equities to replace Derek Bandeen, who retired. Roos
had joined Citi from Deutsche Bank AG.
Citi also last year hired Armando Diaz from hedge fund
Millennium Management to run cash equity trading.
Citi reported equities revenue of $694 million in the fourth
quarter of 2016, up 15 percent, but below the $800 million to
$900 million a quarter Citi CEO Michael Corbat has said the firm
(Reporting by Olivia Oran in New York; Editing by Sandra Maler)