Quant EMS Nabs Ex-Citi Execution Exec.

Hedge fund hotel Quant EMS has snagged a casualty of the recent cuts at Citigroup's investment bank.

Paul Kelly has joined Quant EMS as director of business development. He is charged with building the mini-prime's client base in Europe.

Kelly left Citi in December after serving as head of the bank's European wholesale execution services unit.

"We’re excited to have Paul join the team and he’ll help us to capitalize on the growing interest we’re seeing from smaller proprietary trading houses, brokers and hedge funds from across Europe," CEO Jerry Lees told Financial News. "These firms are able to operate under our FSA-licence, and by aggregating activity from these we are able to bring them wholesale-level benefits across execution, clearing and other brokerage services."