Andrew Coyne has moved from Deutsche Bank and joined Citigroup in London as Global Head of FX Prime Brokerage.
Coyne follows Nick Roe, who left Deutsche Bank last year to move to Citigroup's Prime Brokerage operation in London. Coyne will be a Managing Director, based in London and reporting to Bill Hartnett, global head of FX eCommerce.
Prior to joining Citigroup, Andrew was global Head of FX Prime Brokerage at Deutsche Bank in London, having joined Bankers Trust in 1988. He has an MBA from CASS Business School and a BSc in Financial Economics from London University.
At Citigroup, Coyne will spearhead the management and expansion of the growing FX Prime Brokerage business, focusing on enhancing services to current clients, growing the client-base, and developing new products and services to differentiate Citigroup's FX Prime Brokerage offering.
Under Andrew's leadership, the team will work with partners across the Citigroup prime brokerage platform to continue the development of key value-added products, such as capital introduction, cross-product margining and increasingly sophisticated customer solutions.
Together Citigroup's Prime Brokerage Businesses, comprising Equities, FX and Fixed Income Prime Brokerage, offer hedge fund clients unparallelled access to the bank's leading product knowledge and market presence.
Bill Hartnett said: "In keeping with Citigroup's goal of being the number 1 bank in the global foreign exchange markets, our objective is to be the preferred provider of electronic FX products and services today and in the future. FX Prime Brokerage is a key part of our overall strategy and we are making a significant investment in this area to increase our capabilities and enhance our client offering. Given his proven track record of success, managerial strengths and vision, we believe that Andrew Coyne is the right person to lead this effort. I am very excited about our prospects and look forward to working with Andrew to help realise our aspirations."
Jeff Feig, global head of Foreign Exchange, said: 'Andrew is one of the top professionals in the FX Prime Brokerage business. This hire demonstrates our commitment to hiring and retaining the top talent in the marketplace. Our clients can be secure in the knowledge that we will invest to ensure they have every advantage in dealing Foreign Exchange with Citigroup.'
Anu Jayanti, global head of FX Leveraged Fund sales, said: 'We have heard about Andrew Coyne for many years. I am thrilled we now have an individual who can build out our FX Prime Brokerage platform and ensure it is the best in the industry. Taken together with our talented sales force, our research and risk advisory offering, our market-leading eCommerce platform and our fantastic trading and exaction team this hire demonstrates our commitment to the hedge fund community.'