Citi Targets Cap. Intro, Derivatives In Asia Prime Hiring Binge

Aug 11 2011 | 12:46pm ET

Citigroup has launched an aggressive hiring push that will increase its prime brokerage staff in Asia by 20% this year.

The U.S. bank is focusing on capital introductions, over-the-counter derivatives, client services and futures in its recruiting, Reuters reports. Among the new hires are Ian Nissen as head of futures and prime finance sales in Australia, Rob Baigrie and Carol Teng in capital introductions, and Chris Day on the exchange-traded derivatives team.

Nissen and Day joined Citi from JPMorgan Chase. Baigrie formerly worked at HDH Capital and Teng at Nomos Capital Partners.

"We have been getting a number of new sole mandates and we are seeing second and third mandates coming in from existing Asia managers as well," Citi's Asia prime finance chief, Hannah Goodwin, told Reuters.

"Citi has pretty much everything and it's a matter of working out what works best for the client," she added.

When the hiring spree is over, Citi will have roughly 80 prime brokerage staffers covering the Asia-Pacific region.

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