Citi taps senior UBS equity trader to head US prime finance

Citi has made several moves to bulk up its global equities and prime finance businesses.

Citi has hired Thomas Regazzi as its new head of prime finance for North America, according to an internal memo, as it continues to build out its equities team.

Regazzi joins from UBS where he was previously head of synthetic equity trading for the Americas, serving almost seven years at the Swiss bank.

According to the memo, Regazzi will “lead prime services, equity finance, agency securities lending, and delta one across the region. Tom will work in close cooperation with the regional leads across sales, operations and technology to execute our growth strategy for prime finance in North America.”

Prior to joining UBS in 2010, he was head of synthetics trading at Lehman Brothers for eight years, and then at Barclays Capital following the financial crisis.

The hiring of Regazzi is the latest move from Citi in its bid to bulk up its equities unit. Last month it promoted veteran Antonin Jullier to global head of equity sales.

Citi began widespread changes to its equities team last year when it hired Vincent Folliot from Bank of America Merrill Lynch as co-head of EMEA strategic equities. It then appointed Murray Roos and Dan Keegan as co-heads of global equities.

Regazzi will report to Adam Herrmann, Citi’s global head of prime finance.