FINSwire Jun 15 2011

Citigroup Hires Vice Chairman For Capital Markets Americas

By david benoit

Citigroup Inc. named a new vice chairman of its capital markets organization for the Americas, hiring a veteran away from Morgan Stanley, according to an internal memo.

Elinor Hoover, most recently the vice chairman of global capital markets at Morgan Stanley, will join Citigroup in September, reporting to John Chirico and Richard Zogheb.

The memo, from Chirico and Zogheb, said the 20-year veteran of the capital markets business will work with the bank's "largest and most important industrial and financial clients."

Citigroup has said it is looking to rebuild its investment banking operations, with John Havens, the head of the business and Citigroup's president, telling Dow Jones last month the group lost its focus but is working back. The group is trying to hire about 500 employees worldwide over the next few years.

At Morgan Stanley, Hoover also held at different times the titles of co-head of fixed income capital markets in North America and the head of corporate derivatives in North America.

David Benoit and Matthias Rieker are reporters for Dow Jones Newswires, where this story originally appeared. Write to David and Matthias.

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