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Citi hired a popular Goldman Sachs equities MD as it builds its US equities franchise

Citi's US equities franchise has had a spate of bad press recently in light of complaints about the culture there from multiple female employees, including managing director Ardith Lindsey. Those complaints have been refuted by Citi. They don't seem to be preventing new employees, including senior women, from joining. 

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Citi is understood to have made at least two senior hires to its US equities business. They include Joseph Anastasio, a popular managing director from Goldman Sachs' US equities business, and Jenny Hadiaris from Cowen & Company. Both are based in New York.

Anastasio is understood to have resigned from Goldman in recent weeks. He spent his entire career at the bank, having joined in 2008 and is described by some insiders as having been the "heart" of Goldman's high touch team. "He grew up here and was loved by the team," says one. Goldman promoted him to MD in 2021.

Goldman declined to comment, as did Citi. Anastasio is joining Citi as co-head of high touch sales trading, allegedly on a substantial package. 

Hadiaris is joining Citi to run electronic execution. She spent seven and a half years at Cowen as head of market structure and was formerly in similar roles at Deutsche Bank and RBC.

Both Hadiaris and Anastasio didn't respond to requests to comment.

Anastasio's exit is the latest in a series of departures from Goldman's equities business in New York. The firm has, however, also been hiring: it added Ripal Patel as a managing director in its execution services business at the end of May.

Goldman insiders are speculating that Anastasio left because he couldn't see a path to partner. "He probably wanted partner, didn't see it and didn't want to wait for a partner to retire so that he could move up," suggests one. 2024 is a partner year, though, so he conceivably didn't have long to wait. 

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 Photo by Ali Kokab on Unsplash

 

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AUTHORSarah Butcher Global Editor

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