Citigroup Hires Barclays's Rolfe for Japan Hedge Fund Business

  • Rolfe began working as sales trader for prime finance section
  • He is the second recruit for the division in Tokyo since May

Citigroup Inc. hired Roland Rolfe from Barclays Plc in a bid to strengthen its brokerage business for global hedge funds in Japan.

Rolfe started working at Citigroup Global Markets Japan Inc. on Monday as a sales trader in the prime finance department, according to an internal memo obtained by Bloomberg. Mika Nemoto, a Tokyo-based spokeswoman, confirmed the contents of the document.

He is the second addition to Citigroup’s prime finance business in two months. The division serves hedge funds that are seeking to borrow stocks, obtain funding and execute transactions.

Yuki Tanoue joined Citigroup in May from Deutsche Bank AG as a trader covering stock lending and borrowing. The U.S. bank is adding staff for its hedge fund business in Japan as it seeks to boost its presence in the nation’s equity market, Toshikatsu Furumi, head of investor services, said in an interview in May.

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