Citigroup has poached a senior executive from Goldman Sachs in a bid to hit increasingly ambitious diversity targets.
Erika Irish Brown will become new chief diversity, equity and inclusion officer and global head of talent. Brown joins from Goldman Sachs, where she was chief diversity officer.
The memo, from Sarah Wechter, head of human resources at Citi, said the bank was “just getting started” on its diversity goals.
Credit Suisse has hired the former head of Bank of America‘s leveraged finance capital markets business in Europe as the Swiss bank continues to bolster the division in London.
Joe Bishay, whose departure from Bank of America spurred a shake-up at its European leveraged finance unit, has joined Credit Suisse as a managing director and senior member of its syndicate team.
At the US bank, Murad Khaled has now been named head of Emea leveraged finance capital markets. He will report into Rahul Srinivasan, who leads leveraged finance at Bank of America in Emea and will take the role up immediately.
Citi has named an executive to drive its digital strategy as the bank continues its transformation under new chief executive Jane Fraser.
Sandeep Arora has been promoted into a role that will see him push the digitisation of Citi’s institutional client group, which includes its investment bank and sales and trading business.
“Enhancing the way we serve our clients, a crucial component of Citi’s overall Transformation effort, has resulted in momentum that emphasises the importance of our digital strategy,” Paco Ybarra, CEO of Citi’s institutional clients group, and Stuart Riley, head of ICG technology and operations wrote in a memo.
Elsewhere at Citi, the bank has named new heads of its industrials investment banking team, creating closer ties between its European and Asian business as cross-border M&A deals have surged.
David Biller and Jean-Baptiste Petard have been named as co-heads of industrials for Europe, the Middle East and Africa, according to an internal memo seen by Financial News. They will work alongside Erik Savola in the roles.
Petard and Biller will also co-head the industrials investment banking team in Asia and Japan, the memo said, as the bank looks to take advantage of “growing connectivity between these important markets”.
Citi has also created a new senior role to engage with clients across the division housing its investment bank.
The US bank has promoted long-serving executive Julia Zilberman into head of client engagement and marketing for its institutional clients group. She will report directly to Paco Ybarra, who runs the division.
The head of Citi’s unit advising private equity companies in Europe is leaving to join UK investment firm BC Partners to lead its fundraising efforts.
Alexis Maskell, head of the alternative asset managers group for Europe, the Middle East and Africa at Citigroup, is set to join the $40bn British private equity firm as global head of investor relations
Banks including JPMorgan, Goldman Sachs, Citigroup and Bank of America are scrambling to hire junior bankers as a surge in workload during one of the busiest starts to the year in decades has led to increasing concern over burnout and mental health.
Those banks have around 175 vacancies for analyst and associate level positions for their advisory units in the US and Europe, according to analysis of their careers centres.
They are looking to beef up the junior ranks as working weeks have edged above 100 hours this year, and analysts have cited increased mental health problems as the Covid-19 pandemic has worn on.
Law firm Slaughter and May has named five new partners, having promoted just one in 2019. The new London-based partners are James Cook (corporate), Claire Cooke (finance), Laura Houston (intellectual property/information technology), Charlie McGarel-Groves (finance) and Peter Wickham (disputes and investigations).
Private equity giant, Apollo Global Management, has announced that co-founder Marc Rowan will become the fund’s next chief executive. He will replace founder Leon Black, after the firm found itself at the centre of a scandal surrounding Black’s ties to disgraced financier Jeffrey Epstein, prompting Black’s resignation in January.
And in case you missed it last week, Bank of America named a new head of private capital markets in Europe, the latest change at the top of the bank’s equity advisory team amid a boom in revenues in the sector.
Aga Masud has been named head of private capital markets for Europe the Middle East and Africa at the US bank. She will also retain her current role overseeing clients within the Germany, Austria and Switzerland regions, the memo from James Palmer, head of Emea ECM and John Collmer, head of global private capital markets.
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