Citigroup to lose hedge fund services chief


Citigroup is set to lose its head of hedge-fund services, Steve Bowman, according to an internal memo circulated at the investment bank.

The 24-year veteran of Citi helped coordinate a variety of units serving hedge funds, such as prime brokerage, as well as activities in the fund services and securities division.

Bowman will remain at the bank to hand over his management responsibilities, although it is not clear who eventually will fill his shoes.

Bowman’s departure follows that of prime brokerage co-heads Ali Hackett and Tom Tesauro, who both left in March.—JDC