Citi is still hiring a lot of MDs
It’s a good time to be an MD that wants to work at Citi. We’ve spotted the bank adding senior staff in three different countries, from three different industries.
Peter Wikström joins Citi in Stockholm to join the Nordic investment banking team. He most recently worked for Geely – the Chinese automobile company – where he was head of business developments and investments for two years. In all likelihood, the 12 years he spent before Geely at Rothschild (where he was an MD) might have more to do with his new job.
Lin Yan joins the bank in New York. She was with Goldman Sachs for nearly 5 years before leaving, as an MD with the healthcare investment banking team. She was an MD at Goldman, and she’ll be a heatlhcare MD at Citi, too.
Anurag Pal joined the bank in London. He was an associate partner at McKinsey & Co., the consultancy, which he spent a year and a half at. He’ll be Citi’s head of strategy for global markets.
Citi has been on a bit of a warpath recently. It’s bulked up its tech team, and it paid junior bonuses, from what we gather, way more generously than rivals – or really, way more than generously than was expected. The bank has had a bit of a reputation for… Fiscal conservatism towards variable compensation, let’s say.
It’s been hiring risk and control MDs this year. It hired huge numbers of MDs in 2021 – around 70, the majority of them in the USA. It promised in 2022 that it would still hire investment bankers, even as dealmaking slowed, although that plan was being “repaced”.
Wikström, Yan, and Pal weren’t the only (or the biggest) additions this year. Citi brought in Greg Dalle from Credit Suisse back in March, Bloomberg reported, to be its co-head of industrials in EMEA.
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