Citi has appointed Todd Johnson as its Head of Prime Brokerage business in Europe. Johnson joins Citi from Deutsche Bank where he held a similar position. His appointment follows other recent significant hires for Citi's Hedge Fund Services business in New York and Hong Kong.
Johnson will be based in London and will report to Nick Roe, Citi Head of EMEA Equity Finance, part of Citi's Hedge Fund Services business.
Roe said: 'Building stronger securities lending, risk management and capital introduction teams alongside a more powerful technology platform has helped Citi become the fastest growing Prime Brokerage business in Europe (Source: EuroHedge)'
'We are delighted that Todd has joined Citi to help build on this momentum. His track record speaks for itself and his experience of working closely with hedge funds around the globe gives our business an invaluable boost. Over the last 18 months Equity Finance Revenue in Europe has increased by over 100%, and we have seen our business grow substantially, by 68% in 2006 vs 2005, off the back of continued investment in people and technology. We expect to add more hires throughout the year as the business continues to grow'.
Johnson had been responsible for European Prime Brokerage at Deutsche Bank for three years, prior to which he was Head of Hedge Fund Client Services. His appointment follows other recent significant hires for Citi's Hedge Fund Services business in New York and Hong Kong. Richard Kennedy ex-Head of Synthetic Equity Trading for Deutsche Bank joined Citi as Global Head of Synthetic Equity Finance Trading, based in New York, and Lane Hocking, ex Head of Equity Finance for Deutsche Bank in Tokyo has joined Citi as Head of Securities Lending and Synthetic Equity Trading in Hong Kong.
Hedge Fund Services is a new Citi division which provides hedge fund clients with a comprehensive and integrated offering that includes financing, prime brokerage, consulting services and operational support. By unifying its multi-broker, multi-strategy capabilities under one business, Citi is positioning itself to anticipate and address the increasingly complex needs of hedge fund clients around the world.