- Citi made a major hire in its European equities team.
- 20-year-veteran Michela Ferrulli has been hired as the bank’s head of equities and sales trading for the Central and Eastern Europe, Middle East, and Asia region.
- She previously spent more than six years with Bank of America Merrill Lynch as head of EEMEA equity sales.
LONDON – American banking giant Citi has made a major hire in its European equities operation.
Twenty-year-veteran Michela Ferrulli has been hired as the bank’s head of equities sales and sales trading for the Central and Eastern Europe, Middle East, and Asia (CEEMEA) region, joining Citi after more than six years with Bank of America Merrill Lynch. At BAML, Ferulli was head of Eastern Europe, Middle East, and Asia (EEMEA) equity sales.
Ferrulli will also act as a managing director at the bank, and will be based in London.
She has previous experience at Citi, having spent 11 years at the firm between 2001 and 2012, working on both the Europe, Middle East, and Asia and Latin America regions.
“We are confident Michela will be a great partner and asset to our business,” Mark Robinson, head of cash equities for the EMEA region said in an email to staff. “Her appointment highlights our continued focus on building the momentum of our equities franchise.”
Earlier in March, Business Insider reported that Citigroup’s stock trading division is undergoing a strategic reorganization, despite solid performance in the space.
Cash equities declined 3% to $US9.2 billion across Wall Street last year, but industry sources say Citi’s cash equities business, while smaller than competitors at the top of the league tables, actually grew by more than 7% in 2017, BI’s Alex Morrell reported.
“Equities has done pretty well this quarter,” CFOJohn Gerspach said at an investor conference a few weeks ago. “We have a shot at getting to $US1 billion of revenues this quarter in Equities.”