Lucy Baldwin, Citi’s Global Head of Research, Set to Depart
Lucy Baldwin, the esteemed global head of research at Citi, is reportedly bidding farewell to the bank. Having joined Citi in 2021, Baldwin is said to have secured another opportunity and submitted her resignation today. Despite attempts to reach out for comment, Baldwin remained unavailable, while Citi opted not to provide a statement.
Baldwin’s illustrious career in equity research has been nothing short of impressive. Beginning at Cazenove, she later transitioned to Goldman Sachs, where she ascended to the role of co-head of European equity research and achieved managing director status at just 27. Subsequently, Baldwin held positions at BofA and Credit Suisse before landing at Citi.
Recognition and Success at a Young Age
At the age of 33, Baldwin has already made a significant impact in the industry. In a memo obtained by eFinancialCareers, David Livingstone, Citi’s chief client officer, lauded Baldwin as a driving force in research, credited with attracting top-tier talent to the team. Livingstone disclosed that Citi is actively seeking a replacement for Baldwin, with Robert Rowe stepping in temporarily to fulfill her duties.
Reflecting on her journey, Baldwin shared insights in a podcast five years ago. Hailing from a small town in Shropshire, she initially veered towards finance under the encouragement of her university boyfriend. Baldwin’s interest in the field burgeoned after reading “Barbarians at the Gate,” eventually leading her to specialize in equity research.
Determination and Resilience
During the early stages of her career, Baldwin was driven by a sense of urgency to settle her student loans and save for a home. Fortuitously, she found herself covering a highly sought-after sector, enabling her to swiftly establish herself as a reputable analyst. Collaborating with seasoned professionals and co-authoring reports further bolstered her profile.
Despite encountering setbacks, such as missing out on a promotion to managing director at Goldman Sachs initially, Baldwin maintained a resilient outlook. She acknowledged the transient nature of disappointments in the grand scheme of a lengthy career. Baldwin also recognized the importance of maintaining a healthy work-life balance, a lesson learned through experience.
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