Citi taps ex-UBS exec Herrmann as global head of prime finance - memo
LONDON, April 2 (Reuters) - Citigroup Inc has appointed former UBS Group executive Adam Herrmann as its global head of prime finance, a unit that services hedge funds.
Herrmann, who was the co-head of global equity finance at UBS, will join the Wall Street bank in June and initially be based in London, according to an internal memo seen by Reuters.
A Citi spokeswoman confirmed the contents of the memo.
He will report to Okan Pekin, Citi's global head of investor services, and relocate to New York by the end of the year.
Prime finance units provide services such as lending money and settling trades for hedge funds.
(Reporting by Nishant Kumar, editing by Sinead Cruise)
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