Citigroup Hires Morgan Stanley’s Gelblum for Tech Stock ResearchDakin Campbell and Laura Marcinek
Citigroup Inc., the third-biggest U.S. bank by assets, hired Ehud Gelblum from Morgan Stanley as a managing director to cover makers of computer-networking and phone equipment.
Gelblum, 44, will join Citigroup on Oct. 29, Sophia Stewart, a spokeswoman for the New York-based company, said yesterday in an e-mail.
Gelblum, who left Morgan Stanley in July, had followed firms including smartphone maker BlackBerry Ltd., Aruba Networks Inc. and Juniper Networks Inc. He has been named a top-ranked analyst 10 times by Institutional Investor magazine, according to his profile on LinkedIn Corp.’s website.
Rising stock markets have lured investors back into equities, leading to a renewed focus on stock-picking. Revenue at Citigroup’s stock-trading business, run from London by Derek Bandeen, increased 68 percent in the second quarter from a year earlier to $942 million. The Standard & Poor’s 500 Index has climbed 18 percent this year after rising 13 percent in 2012.
Gelblum joined Morgan Stanley in 2009 from New York-based JPMorgan Chase & Co., where he had worked since 2002, according to Financial Industry Regulatory Authority records. He previously worked for Credit Suisse First Boston Corp. and Merrill Lynch & Co., the records show.
He has a bachelor’s degree from the University of Pennsylvania and a doctorate from Columbia University, both in electrical engineering, according to his LinkedIn profile.