Citi hired a managing director from Morgan Stanley to run European credit strategy
Citi is cutting 20,000 people in the next few years, but this does not mean that it is stopping all recruitment.
The bank has hired Morgan Stanley managing director Srikanth Sankaran as head of European credit strategy, based in the London office. Sankaran was most recently based in New York for Morgan Stanley, so maybe he wanted a change of scene.
Citi didn't immediately respond to a request to comment on the move, which comes as the bank is in the process of cutting 5,000 of its 20,000 jobs by restructuring management and removing reporting lines. As part of the changes, the Citi research team which Sankaran is joining is understood to have moved into the client organisation.
FINRA shows Sankaran leaving Morgan Stanley on January 12th, well before bonuses were paid. He was head of US and European credit research there.
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