Bloomberg News

Citigroup Adds Staff to Strengthen in Emerging Markets

June 22, 2011

(Updates with hiring of debt traders in first paragraph.)

June 22 (Bloomberg) -- Citigroup Inc., the fourth-biggest underwriter of international emerging-market bonds this year, is hiring strategists and traders in London and New York as it seeks to expand coverage of developing nations.

Citigroup hired Rodney Thomas as a corporate credit strategist for Europe, the Middle East and Africa, luring him from Thames River Capital, bank spokeswoman Danielle Romero- Apsilos said today in an e-mail.

He will be based in London and joins a growing list of newly hired emerging market corporate debt staff at Citigroup, including strategist Eric Ollom, who previously worked at Jefferies & Co., and Bevan Rosenbloom, who was hired from RBS Securities Inc. as a credit research analyst. Citigroup has also hired Ray Khan from Morgan Stanley, Arkady Lefkowitz of Banco Santander SA and Macquarie Bank Ltd.’s Steve Gooden as emerging- market corporate debt traders, Romero-Apsilos said.

“Corporates are the fastest growing segment of emerging markets debt, and we are enhancing our coverage to be at the forefront of this development,” Romero-Apsilos said. “Strengthening our focus in emerging markets is an important part of Citi’s global strategy. These hires will help us align our resources with our clients’ interests in the growing emerging markets and corporate credit markets.”

Europe Region

Khan, who will trade Asian financial and high-yield corporate debt, will be based in New York and report to Jay Parshottam. Lefkowitz will be trading Latin American corporate debt from New York and report to Alberto Agrest. Gooden will be based in London trading Central Europe, Eastern Europe, Middle East and Africa financial debt. He will report to Hakan Sofuoglu, Romero-Apsilos said.

Thomas will be reporting to Sofuoglu and Elbek Muslimov, heads of Central Europe, Eastern Europe, Middle East and Africa credit trading. Both Ollom and Rosenbloom will be based in New York and focus on Latin America, according to Romero-Apsilos. They will report to Tom Beatty and Agrest, Romero-Apsilos said.

Emerging-market economies are forecast to expand 6.3 percent this year, compared with 2.2 percent for developed nations, according to the Washington-based World Bank.

Deutsche Bank AG is the biggest underwriter of international emerging market debt this year, according to data compiled by Bloomberg.

--With assistance from Drew Benson in New York. Editors: Richard Richtmyer, Brendan Walsh

To contact the reporters on this story: Boris Korby in New York at bkorby1@bloomberg.net; Veronica Navarro Espinosa in New York at vespinosa@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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