Citi has appointed one of its prime brokerage experts as head of agency lending for Europe, Middle East and Africa (EMEA).
Stuart Jarvis will transition to his new role in December following a “cooling-off period”, according to an internal memo seen by Global Custodian, and formally take on the role at the start of January.
Jarvis has been a part of Citi’s prime brokerage team for over 11 years where he most recently ran the trading and sales trading teams within the prime and delta one businesses. He also held similar prime brokerage roles at Barclays and Goldman Sachs.
“He will continue to manage the prime and D1 sales trading team until his transition begins but will hand over management of the trading function with immediate effect,” the memo said.
In the new role, Jarvis will report to David Martocci, global head of agency lending, and Simon Kempton, EMEA head of prime finance.
The appointment of Jarvis will help fill a gap left by Gareth Mitchell, its long-time global head of securities finance equity trading, and EMEA and Asia head of securities finance trading, who quit the bank in the summer.
Earlier this year, Citi’s announced it will begin accepting European exchange traded funds (ETF) as collateral in agency securities lending transactions, a move that could help unlock the potential of the burgeoning products in the region.