Citigroup Names Folliot, Amicucci, to Head Equity Solutions Unitby
Folliot joins Citigroup from Bank of America to co-head unit
‘Strategic equity solutions’ unit structures derivatives
Citigroup Inc., seeking to shore up its stock-trading business after a series of top-level departures, named Alessandro Amicucci and Vincent Folliot as co-heads of a unit that structures corporate equity derivatives across Europe, the Middle East and Africa.
The New York-based lender hired Folliot from Bank of America Corp. for the role, while Amicucci has worked at Citigroup since 2009, according to an internal memorandum seen by Bloomberg News. The Financial Times reported the moves earlier Monday.
James Boyle, who ran equity derivatives, left for Deutsche Bank AG in April, the same month that the overall head of the business, Derek Bandeen, announced plans to leave.
Folliot and Amicucci will report to Tim Gately, head of equities for the EMEA region, and Stephen Roti, who runs structured equity solutions, according to the memo.
“These strategic appointments reflect our commitment to strategic equity solutions,” Gately and Roti wrote in the memo.