The Citigroup prime brokerage team in London, where former Deutsche Bank maven Nick Roe is now in spearheading the growth of the European business as European head of equity finance, has announced some internal changes and a significant new hire.
In addition to his role as head of funding and collateral trading, Johannes Brenner has assumed responsibility for the Structured Finance group within Equity Finance Europe. Michael Saunders, whose responsibilities are unchanged, reports to him.
“With the experience of Johannes and Mike working together to tackle some of the more challenging aspects of the growth in swaps and the development of the platform we will be better served throughout the process to challenge the market leaders in this space,” says Roe.
In addition, Citigroup has hired Stewart Kemp from Deutsche Bank as a member of the Hedge Fund Demand Team within the Equity Prime Brokerage and Equity Finance Group. He reports to Jonathan Lombardo, European Head of Securities Lending. Roe says he will have a client-facing role, facilitating clients’ daily stock borrowing requirements.
Kemp began his career in 1998 as a graduate trainee at Nomura, before joining the Equity Finance desk. He became Senior European Trader at Nomura before moving to Deutsche Bank in 2004, where he covered the Iberian markets, managed a number of institutional relationships, and worked closely with the Structured Equity Trading Group.
“This hire emphasises our commitment to our hedge fund client base and to the equity prime brokerage product,” says Roe. “With volumes up over 200 per cent in the last twelve months, we continue to build the team in response to demand.”