30JUL19: Citi is merging its equities and prime, futures and securities services business lines. The motivation, in part, is in reaction to increasing client demand for end-to-end solutions supporting pre-trade, execution and post-trade. The new organisation – Equities and Securities Services (ESS) – will include broad trading and execution capabilities for electronic and complex structured products, financing and hedging solutions, clearing, custody and fund services.
Dan Keegan, Okan Pekin and Murray Roos will jointly head ESS, reporting to Carey Lathrop and Andy Morton. The management team will include the current global product, sales, structuring, operations, technology and HR heads, whose roles remain unchanged, as well as four regional heads. Chris Glauner will be the global COO for ESS. Regionally, Cedric Pauwels will lead North America, Chris Cox will manage EMEA, Ricardo Hesse will run Latin America, and Julia Raiskin will head Asia. In addition to his role with ESS, Dan Keegan will become head of markets and securities services for North America.