One of Citi's most senior London equity sales traders is no longer there

Stefan Herrenknecht is the sort of person who disproves the notion that trading floor careers are nasty, brutish and short. He also disproves the notion that there's no real need for equity sales people in the age of electronic trading, or that if you stay somewhere for long enough you will probably make managing director (MD).

💥Follow us on WhatsApp for news alerts.💥

Herrenknecht spent nearly three decades at Citi. He joined in 1998 after graduating in economics from UCL and there he remained until - we understand - earlier this week.

Herrenknecht did not make managing director. He was a director at Citi and was presumably something of an institution. He did not respond to our effort to contact him.

Working in equity sales can be a gruelling experience involving heavy client entertainment in London establishments. Not everyone endures, but a generation of experienced equity salespeople who began their careers in the 1990s is still around. At Citi, it includes David Cansell, who began his career in 1992 at Merrill Lynch, and who is a director too.

Citi's equities business is having a good year. Revenues are up 42% year-on-year in the first half. Herrenknecht is not the only recent departure in London, though. Jamie Miller, the EMEA co-head of electronic execution is also no longer present. Citi is not commenting on his disappearance. We understand that some clients have been told that Miller resigned. Miller didn't respond to a request to comment.

Follow me on X. Follow me on LinkedIn. 

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Signal: sarahbutcher.22  Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. 

Bear with us if you leave a comment at the bottom of this article: comments are moderated intermittently by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. You must take sole responsibility for comments you post on this site. We will take reasonable steps to weed out anything that we consider to be offensive or inappropriate.