Citigroup has recruited a senior trader from J.P. Morgan to run its mid-cap equities business in EMEA. Mark Francis will join Citi as head of mid-cap equities trading in EMEA, having held the same position at J.P. Morgan in London.
Previously, Francis worked as co-head of pan-European mid-cap trading at Goldman Sachs and co-head of FTSE 250 trading at Deutsche Bank. He will report jointly to Antonin Jullier and Ronan Connolly, co-heads of equity trading in EMEA at Citi.
The hire of Francis is the latest move from Citi’s global head of equities Derek Bandeen to bolster the firm’s equities sales and trading business. Since moving to Citi in May 2008, Bandeen has hired Jullier and Connolly, as well as appointing Mike Pringle as head of equities in EMEA. The firm has seen a influx from Morgan Stanley and Merrill Lynch, including director of electronic execution sales Chris Jackson, who previously held a similar role at the latter outfit.
Earlier this week Citi lost Steve Swanson, co-head of global electronic trading, who joined the firm when it acquired US electronic market making and proprietary trading business Automated Trading Desk. Swanson’s role will be assumed by Dan Keegan, currently co-head of global electronic trading sales at Citi, effective immediately. Keegan will partner Shakil Ahmed, the bank’s other co-head of global electronic trading and global head of quantitative strategies at Citi Capital Advisors.
Richard Taylor left his position as head of European equity research at Citigroup in April to join New York-based investment bank Jefferies.