Citi Taps UBS Exec Herrmann For Global Prime Finance Slot

Apr 6 2015 | 9:19am ET

Citigroup has hired Adam Herrmann as head of its global prime finance unit. 

Herrmann was most recently global co-head of equity finance at UBS and had stints at Deutsche Bank, HVB and BNP Paribas, according to his Linkedin profile. He will reportedly start in June and be based at Citigroup’s London offices.

The unit, which services hedge funds, has been without a head since the departure of David Murphy in September. 

Herrmann will report to Okan Pekin, who is the company’s global head of investor services. Like most large banks on Wall Street, Citi’s prime brokerage unit has had to adapt to new post-financial crisis regulations on the use of bank capital that have made the business of prime finance more difficult. 


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