Paul Harvey, previously CEO of GLG’s fund of hedge funds group, has been appointed head of sales and capital introduction for EMEA in Citis Prime Finance unit, according to an internal memo.
He replaces Will Potts, who has moved to mange Ivaldi, a managed accounts platform. Citi recently took a minority stake in the platform, and acts as prime broker, administrator and custodian.
Harvey will report to Mark Harrison, European head of Prime Finance, Billy Macaluso, global head of sales & marketing, Prime Finance and Andres Recoder, EMEA markets head of sales.
Harvey left GLG in January 2010, after founding its multi-manager unit. Harvey was also involved in a court case in 2009 involving fees. An unnamed businessman filed papers in Londons High Court claiming $80,000 of unpaid fees from introducing Harvey to a Saudi sheikh, who was looking to invest up to $4 million (2.7 million) in GLG, according to the Evening Standard.
Speaking to GlobalCustodian.com, someone close to the case said the lawsuit was never believed to have made it to court.
Before arriving at GLG, Harvey led Morgan Stanley’s prime brokerage sales.
Citi has also appointed Arun Neelakamvil and Mark Rogers to its prime finance sales team.
Citi has conducted a hiring spree for its Prime Finance department in 2010. In March 13 new staff joined the unit in London and New York, including John Nicholson, a former Barclays Capital executive, as US managing director, and Eric Hughson, a former Commerzbank executive, as managing director in the London trading desk.
Giles TurnerNews Editor