Citigroup Inc. (C), the third-biggest U.S. bank by assets, hired former “America’s Next Top Model” contestant and MTV anchor Kimberley Stolz for a job in equity- derivative sales, said two people familiar with the matter.
Stolz, 29, left brokerage BTIG LLC to join Citigroup, according to the people, who requested anonymity because the move isn’t public. Stolz will be a vice president and report to David Silber, head of flow equity-derivative sales, the people said. Simon Yates oversees global equity derivatives.
Chief Executive Officer Vikram Pandit, 55, is seeking to halt a slump in the equities business after revenue tumbled more than 40 percent in the 12 months ended June 30 from the previous year. The bank overhauled the unit in March and has since lured equity-derivatives executives from competitors including Citadel LLC, Jefferies Group Inc. (JEF) and Deutsche Bank AG.
“Our business is past the problems of the second half of last year and we continue to execute well,” Chief Financial Officer John Gerspach, 59, told analysts last month. “Low levels of client activity remain a substantial challenge and that will likely continue into the third quarter.”
Stolz and Scott Helfman, a spokesman for New York-based Citigroup, declined to comment.
She joined New York-based BTIG in 2010 and worked in equity derivatives, according to her LinkedIn page. Equity derivatives are contracts whose values are based on underlying securities, such as common stock.
MTV, the music network owned by New York-based Viacom Inc., employed Stolz from June 2006 through June 2010, Financial Industry Regulatory Authority records show. She was a contestant on the fifth cycle of “Top Model,” according to a biography on MTV’s website. The show, hosted by Tyra Banks, airs on CBS Corp. and Time Warner Inc.’s CW network.
She interned at Goldman Sachs Group Inc. (GS) in 2004, according to Finra records and her LinkedIn page. Stolz graduated in 2005 from Wesleyan University with a bachelor’s degree in government and international politics, and titled her senior thesis “The Impact of Exit Strategies of United States Intervention in the Post-Cold War Era,” her LinkedIn page shows.
Stolz also is the author of “Can’t Stop: Why We’re Obsessed with Social Media -- And What to Do About It,” scheduled to be published in February by Rodale Books, according to an Amazon.com preview.