Citi Adds Ex-Lehman, Morgan Stanley Teams To Prime Brokerage

Mar 29 2010 | 11:56am ET

Citigroup is continuing its aggressive build-up of its prime brokerage team with 13 new hires, including teams from Barclays Capital and Morgan Stanley.

The new additions to Citi’s global prime finance group are based in New York and London, and are led by John Nicholson, named a managing director of U.S. trading, and Eric Hughson, who joins the European trading team. Nicholson comes to Citi from Barclays via Lehman Brothers, while Hughson formerly worked at Commerzbank.

“In a very short time, we have built a world-class prime finance business at Citigroup, and these hires are evidence that the momentum remains strong,” Nick Roe, global head of prime finance at Citi, said. The moves come just a week after Citi announced plans to double the size of its institutional hedge fund advisory team—part of the prime brokerage group—over the next two years.

Nicholson is joined by six other Lehman veterans. Five of the new hires, all directors, come from Morgan Stanley. The 13 are specialists in trading and risk.

Citi’s new hires were first reported by the Financial Times.


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