Citigroup, a US-based financial and banking service provider, is reportedly in negotiation to appoint Armando Diaz as the global leader of capital equities trading. Armando Diaz will replace Kevin Russell, who stepped down from the bank in 2015. Currently, Kevin is the chief investment officer of O'Connor hedge-fund arm of UBS Group.
In his role, Diaz will report directly to Derek Bandeen, chief of equity sector at Citigroup. Recently, Diaz held a position as the global leader of execution services at Millennium Management, an investment firm. This is the second start for Diaz at Citigroup after 2008 when he joined the bank to manage the institutional capital trading business in the US. In 2011, Diaz left Citigroup to join Millennium, from where he departed in July, as reported in Bloomberg.
In addition, the bank is in discussion to appoint two veterans from Goldman Sachs Group. Citigroup will name Quentin Andre as the global head of structured sales. Moreover, Dirk Keijer will be appointed as leader of derivatives sales unit in Africa, Middle-East and Europe. Andre is entering Citigroup from Goldman Sachs, where he worked as leader of Europe marketing and structuring business. Keijer headed the sales business arm in Europe.
According to Jamie Forese, leader of Institutional Clients Group at Citi, the bank intended to invest in stock offering sector in order to boost its profitability. These appointments signify the bank's effort to construct a robust stock offering business. In 2015, Murray Roos was appointed as leader of global stock sales as well as prime finance unit. The US-based lender also hired John Lowrey as leader of global money electronic execution. Previously, John Lowrey was the chief executive officer of Chi-X Global.
The bank named Stephen Roti as managing director and leader of global corporate stock sales unit. Stephen joined Citigroup from Nomura. On the contrary side, Charles Lytle is leaving Citigroup to join Goldman Sachs as the co-leader of corporate banking business unit. Charles Lytle is replacing Phil Shelley, who left Goldman for Barclays, THE WALL STREET JOURNAL reported.
Meanwhile, David Livingstone, a former banker at Credit Suisse, has been appointed as Citigroup's country officer for Australia. David will join the office from June 1 and will report to Francisco Aristeguieta, chief of Asia Pacific business. David joined Credit Suisse in 2010, where he managed cash markets and investment banking business for Middle East, Africa and Europe till 2013.
Stephen Roberts, the current Citi Australia boss, will be promoted as chairman. There had been gossips that Tony Osmond, leader of investment banking business in Australia, might replace Roberts. According to Aristeguieta, it is important to earn a profit in Australian units as it is the biggest businesses in the area and that David with his vast experience will help the country office to achieve success, as reported by THE AUSTRALIAN BUSINESS REVIEW.
Citigroup aims to build a strong business in stock offering sector by appointing veterans from various financial service providers. The bank is moving forward to maintain its position in the banking industry.
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