UBS O'Connor Hires Citigroup Equity-Trading Head Russell as CIO

Kevin Russell, former global head of equity trading at Citigroup Inc., is joining UBS O’Connor LLC as chief investment officer.

Russell will join UBS Group AG’s O’Connor hedge-fund business in New York and report to Dawn Fitzpatrick, according to internal memo seen by Bloomberg. Russell became head of equity trading last year and spent his entire 22-year career at Citigroup, the memo shows.

Russell is the latest top executive to depart Citigroup’s equities business, which is run from London by Derek Bandeen. Michael Caperonis, head of equities-trading for the Americas, joined Nomura Holdings Inc. while Simon Yates, the lender’s head of equity derivatives, departed last year for Two Sigma Securities LLC. Russell’s predecessor, Michael Pringle, joined Moore Capital Management LP last year.

Business Insider reported the move earlier Tuesday.

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