Citigroup Said in Talks With Diaz to Run Equities Trading

  • Diaz was previously head of execution services at Millennium
  • He would replace Russell, who left last year for hedge fund

Citigroup Inc. is in talks to hire Armando Diaz as global head of cash equities trading, according to a person with knowledge of the matter, who asked not to be identified discussing personnel.

Diaz, 48, would report to equity chief Derek Bandeen and replace Kevin Russell, who left the New York-based bank last year to become chief investment officer of UBS Group AG’s O’Connor hedge-fund business. Diaz, who was most recently global head of execution services at hedge fund Millennium Management, declined to comment.

Citigroup has sought to bolster its equities trading business. The bank hired two derivatives veterans, Dirk Keijer and Quentin Andre, from Goldman Sachs Group Inc. for senior sales roles in the stock-trading unit, according to a staff memo obtained Wednesday by Bloomberg.

This would be Diaz’s second stint at Citigroup, having joined the lender in 2008 to oversee U.S. institutional cash trading after earlier working at Goldman Sachs. He departed Citigroup for Millennium in 2011, and left the hedge fund in July.

Business Insider reported on the talks earlier Thursday.

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