Robert Farringdon Leaving Citi: A Shift in London’s TMT Team
Robert Farringdon, a managing director in Citi’s London technology, media, and telecommunications (TMT) team, is reportedly departing from the bank. While Citi declined to comment on the matter, multiple sources have confirmed his resignation.
Farringdon, who has spent nearly 18 years at Citi after joining as a graduate trainee in 2008, is believed to be taking on a new role elsewhere. Speculations point towards Deutsche Bank, although the bank has not provided any official statement regarding this.
Changes in Citi’s TMT Team
Farringdon is not the only senior TMT banker to leave Citi’s London office this year. Davide Russo departed in March and has yet to resurface elsewhere. This exodus comes amidst a period of transformation and investment within Citi’s ranks.
In an interview with Financial News, Tiina Lee, head of Citi’s business in the UK, revealed that the bank is leveraging savings from its restructuring to bring in new talent. Recent hires include Stuart Ord from Deutsche Bank and Klaus Hessberger from Lazard, signaling a strategic shift in the bank’s approach.
Citi’s Expansion Plans
Vis Raghavan, who heads Citi’s investment bank and previously worked at JPMorgan, has been instrumental in the recruitment drive. At Citi’s investor day, Raghavan outlined the need for 100 new managing directors to match competitors and announced plans to increase the bank’s banking headcount by 15%.
These developments underscore Citi’s commitment to strengthening its position in the market and enhancing its capabilities in the TMT sector.
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