Citi’s US head of investor services sales, David Tenney, has left the bank, in a key loss for the custodian which has been building out its hedge fund services business over the past two years.
Tenney departs after serving four years at the bank, where he led the sales and distribution of Citi’s prime brokerage, capital introductions, delta one, futures, clearing and collateral management services.
According to a post on his Linkedin profile, Tenney confirmed that he left Citi in July.
Prior to joining Citi in 2013 he held a number of high profile roles in the hedge fund and alternatives space, including co-head of alternative investments at Russell Investments and head of client relations at Forester Capital, a Connecticut-based hedge fund.
The loss of Tenney is a blow to Citi which has bolstered its investor and prime services teams globally over the past two years.
Citi made a significant push in prime brokerage in 2015 after hiring Murray Roos in the new created role of global head of sales for equities and prime finance. It later hired Adam Herrmann from UBS as global head of prime finance, before poaching Daniel Caplan as EMEA head of investor services sales two months later.
Most recently, it combined its investor services and direct custody and clearing businesses to create a single global securities services group, headed by Okan Pekin.