Citi To Boost Institutional Hedge Fund Services

Mar 22 2010 | 1:11pm ET

Citigroup is cutting back in all sorts of areas at the government’s behest. Prime brokerage, however, is not one of them.

The banking giant, which the U.S. Treasury still owns a 27% stake in, will double the size of its institutional hedge fund advisory team over the next two years. Citi will focus especially on building its team in Asia, according to Nick Roe, global head of prime finance at the firm.

“We see it as one of the major growth areas for us,” he told Bloomberg News. “The pension funds, the institutional asset market are going directly to hedge funds. It was the reverse of what the investor profile was two years ago.”

Citi’s prime finance consulting team currently numbers 30, focused on the U.S. and Europe. The group features a variety “one-stop” services for institutional investors. The bank built a proprietary trading team for the Danish pension fund ATP two years ago, and helps institutional investors build in-house hedge fund teams as well as advising on external allocations. Citi also offers trade clearing, fund valuation, custody, financing and managed-account services to clients.

The bank is now bringing those servings to Asia, when the prime brokerage team as a whole has grown by six people to about 60 professionals since December.

“We will be adding around 10% headcount to the team in the coming year in Asia-Pacific to support our growth,” Hannah Goodwin, regional head of prime finance in Asia, told Bloomberg.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.