US bank Citigroup said it has hired Stewart Kemp for its hedge fund demand team in the prime brokerage unit, Reuters reported.
Citigroup said on Thursday that Kemp will report to Jonathan Lombardo, European head of securities lending. Kemp will help facilitate clients daily stock borrowing requirements.
The appointment of Kemp, previously at Deutsche Bank, is part of Citigroup’s response to the growing number of hedge funds in its client base, according to the wire service.
Prime brokers offer settlement, custody and securities lending services to hedge funds.