By Anirban Sen and Prakhar Srivastava Dec 2 (Reuters) – Citigroup has hired Bank of America executive Jillian Snyder as its head of capital introductions for North America, a person familiar with the matter said. Snyder will oversee the team that helps hedge fund clients connect to investors, a service seen as increasingly valuable, underscoring […]
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Citigroup hires BofA executive in prime brokerage push, source says
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By Anirban Sen and Prakhar Srivastava
Dec 2 (Reuters) – Citigroup has hired Bank of America executive Jillian Snyder as its head of capital introductions for North America, a person familiar with the matter said.
Snyder will oversee the team that helps hedge fund clients connect to investors, a service seen as increasingly valuable, underscoring Citi’s continued investment in expanding its prime services business, the person said.
A boom in prime brokerage activity delivered strong third-quarter profits for major U.S. banks, prompting lenders to race for market share. Citigroup CEO Jane Fraser has said earlier the bank is doubling down on prime lending services, given the revenue growth potential of the business.
Snyder is returning to Citi after a previous stint at the bank from 2008 to 2015 in New York.
She joins from Bank of America, where she spent more than seven years as a senior member of the capital strategy team across North America and Asia-Pacific, the person said.
Most recently, she served as managing director and head of the APAC capital strategy team.
She has previously held buy-side roles as head of marketing and investor relations at hedge fund Riverloft Capital and at real estate private equity firm Mast Capital.
(Reporting by Anirban Sen in New York and Prakhar Srivastava in Bengaluru; Editing by Shinjini Ganguli)