Citi has created two new equities roles, appointing from within, in a bid to drive its equity business strategy and “cement the gains made in the derivatives business,” according to an internal memo seen by The TRADE.
Robert Smolen has been named head of exotics trading, having previously served as head of EMEA equity exotics and global hybrids trading following his move from JP Morgan in 2017.
The second appointment is that of Yohann Freoa as head of index flow trading – effectively expanding his remit to cover all clusters, having previously served as European head of flow trading. Prior to Citi, Freoa held senior positions at both JP Morgan and Goldman Sachs.
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The internal memo highlights that both roles are set to increase the global coordination of Citi’s offerings. Specifically, Smolen’s appointment will encompass exotics, hybrids and City Index Strategy (CIS), with CIS being jointly managed between structuring and trading.
In addition, Freoa’s new role will “allow [Citi] to systemically optimise [its] client liquidity provision and risk management in index flow from a global standpoint, and further harmonise tactical applications across the regions,” said the memo.