Citigroup Promotes Pringle to Head Global Equities Trading

Citigroup Inc., the third-biggest U.S. bank, promoted Mike Pringle to a new position leading global equities trading as the lender overhauls the unit’s management to earn more from emerging markets.

Pringle, appointed in 2009 to lead equities in Europe, Middle East and Africa, will oversee risk, trading personnel and use of capital, according to a memo from Derek Bandeen, who heads equities at the New York-based bank. Adrian Faure, in charge of equities for Asia-Pacific, will become the unit’s global head of emerging markets, a new post, according to the memo.