Citigroup Names Gately to Oversee Equities in the AmericasBy
David Haldane will assume Gately’s equities role in EMEA
Tim Gately fills the role vacated by Dan Keegan’s promotion
Citigroup Inc. named Tim Gately, currently head of equities in Europe, the Middle East and Africa, to oversee the same business in the Americas, filling the role vacated by Dan Keegan’s promotion.
David Haldane, who runs derivatives trading globally, will add Gately’s role in the EMEA region to his current responsibilities, according to a memo to staff Monday from Keegan and Murray Roos. The duo, named in May to replace Derek Bandeen atop the New York-based bank’s stock-trading business, has been charged with expanding the franchise.
Citigroup has hired executives and doled out cash to build the equities business and overtake competitors, including those in Europe that lack the investment dollars needed to keep pace. Ascending to fifth or sixth place among the largest global investment banks, from eighth or ninth now, could result in an added $1 billion a year in revenue, Chief Executive Officer Mike Corbat said last week. Equities brought in more than $3 billion last year.
“With these appointments, we remain committed to developing talent internally while growing our global equity franchise,” Keegan and Roos wrote in the memo.
Gately joined Citigroup in 2008 from Goldman Sachs Group Inc. as the head of credit trading in the EMEA region. He moved over to the equities business in 2014. Haldane joined in 2011 to run equities in Australia before a series of promotions.