Citi has launched a new 'product-aligned' equity structuring group as part of its strategy of delivering growth in the equities asset class, as well as creating balance within the bank's multi-asset group (MAG), according to a memo seen by SRP.

The new team will be led by Quentin Andre who will assume the role of global head of equities structuring for Investor Clients, in addition to his current role as global head of equity solutions Sales. Based in London, Andre will report to Dan Keegan and Murray Roos, co-heads of global equities at Citi, and will join the bank's Equity Markets Executive Committee.

According to Keegan and Roos, the new structure will provide Citi with the 'appropriate focus and capacity for scale' as it continues to build its equity derivatives franchise.

Quentin joined Citi last year, and has previously held senior roles in equity structuring and distribution. Andre's appointment will result in ‎Eric Personne who headed the bank's multi-asset group structuring activities moving to another unconfirmed role within Citi. MAG reports into Roos, Keegan and Nadir Mahmud, global head of FX and local markets.

Andre joined Citi at the beginning of 2016 as head of global structured sales, with responsibility for Citi's equity and fund derivative solutions globally, reporting to James Boyle, former global head of equity derivatives, who moved to Deutsche Bank shortly after. Andre joined Citi from Goldman, where he was managing director and head of Europe, Middle East & Africa (Emea) equity & fund derivatives structuring & marketing, as well head of cross-asset systematic strategies. Andre had previously worked in equity derivatives sales for hedge fund clients at Goldman and JP Morgan.

In addition, Citi has appointed David Russell as head of markets and securities services for Hong Kong. He will report to Patrick Dewilde, head of Asia Pacific markets and securities services and Weber Lo, Citi country officer & chief executive officer for Citi Hong Kong and Macau in this role.

Russell will take up this role in addition to his current position as Asia Pacific head of securities services, in which he will continue and to report globally and regionally.

In this new role, Russell will be responsible for delivering on markets & securities services priorities of growing market share, wallet share and share of mind across all customer segments. He will work closely with key stakeholders and his team to further capture and capitalize on opportunities across all M&SS product lines, "improve client offerings and continue to strengthen our control and regulatory framework", said the bank. Russell will be a part of the Hong Kong country management team and partner across the Citi businesses to build the Hong Kong franchise.

Russell started his career in London and transferred to Hong Kong in 1992 as an analyst at Daiwa Securities. Over the following years Russell worked in sales and origination roles in both equities and fixed income before joining Citi in 2002 from Nomura Securities. In his career at Citi, Russell has managed the issuer business, securities finance, custody and funds unit, prime / delta1 and futures.

The US bank was the fifth most active issuer of structured products globally in 2016, including tranche and flow products, with a 4% market share and over $17.3bn sold.

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