Continuing its hiring spree at the top management cadres, global financial major Citigroup Inc has appointed former HSBC Private Bank official Richard Macfarlane as head of equity execution services for India. This is part of the company’s plan to strengthen its equity sales business and execution capabilities in the Indian market.
Macfarlane will be based in Citi’s Mumbai office and look after equity and equity derivatives sales trading and trading platforms in India, reports Bloomberg. He will report to Nikhil Nagle, the head of equities in India as well as Paul Sanger, Asia Pacific head of execution services.
Prior to his joining Citi, Macfarlane was in HSBC Private Bank and was managing its investment group based in Singapore. Earlier, he was with UBS AG for over 10 years and had been managing its operation across several markets in the Asia-Pacific region, and ran its European sales trading, the report said.
Citi has been on a hiring spree recently across its equities business, adding key personnel across the region. Last week, Citi appointed John Jacobson as Asia Pacific head of equity. It also appointed Adrian Faure as Asia Pacific head of equity and Paul Sanger as Asia Pacific head of execution services. Earlier this year, Citi appointed Joseph Chang as Asia Pacific head of equity trading.