The prime brokerage arms race continues apace, as Citigroup continues to flex its hiring muscles.
The troubled banking giant has made its seventh senior hire this year for its prime finance unit. Ian Maynard has been named head of trading at Citi’s prime brokerage, Financial News reports.
Maynard joins from Nomura International, where he was executive director of equity finance trading in London.
At Citi, Maynard joins such newcomers as Alan Pace, the former Lehman Brothers prime brokerage executive named head of prime brokerage in the Americas in April, newly-minted head of client-facing technology Norman Escoffery and head of product development Sean McGInty, both also formerly of Lehman, and new head of sales Christopher Greer. All told, Citi has made about 18 new hires for prime finance this year.