Citigroup is allegedly reorganizing its hedge fund services by offering equity, fixed income, currency trading and other services through one prime brokerage business unit.
It is said that the new Hedge Fund Services unit will be headed by Steve Bowman, most recently head of fixed income sales. Bowman will report to Jamie Forese, head of equities, and Neeraj Sahai, head of securities and fund service.
“Serving hedge funds is a key strategic opportunity for Citi,” says an internal Citigroup memo.