Citigroup, Inc (NYSE: C) Hires European Energy Analysts

Posted by on Oct 6th, 2010

Citigroup, Inc (NYSE: C) has hired three of Nomura Holding’s European energy analysts and an equity salesperson as part of an attempt to expand its coverage of gas and oil stocks. Specifically, the New York bank hired Alastair Syme, Michael Alsford, Ryan Kauppila and James Talbot from the Japanese bank.

Alastair Syme will become the bank’s new managing director of its energy research team based out of London, according to a memo obtained by Bloomberg. Syme will report to Terence Sinclair, head of the bank’s research business.

The memo said that Talbot will become managing director of energy specialist sales that Alsford will be the director of the team and that Kauppila will be vice president of the team.

“We are building the best energy research team on the street anywhere in the world,” wrote Sinclair in the memo.

The analysts will join a group of energy investment bankers that Citigroup, Inc (NYSE: C) hired on September 15th from UBS AG, including Stephen Trauber, who is expected to earn as much as $30 million over the next three years.

Bloomberg reported that Mark Fletcher, the current managing director of Citigroup’s energy research team, will move to focus on emerging Europe oil and gas markets.

Citigroup Inc. (Citigroup) is a global diversified financial services holding company. The Company provides consumers, corporations, governments and institutions with a range of financial products and services. As of December 31, 2009, Citigroup had approximately 200 million customer accounts and did business in more than 140 countries. Citigroup operates through two primary business segments: Citicorp, consisting of its Regional Consumer Banking (RCB) businesses and Institutional Clients Group (ICG), and Citi Holdings, consisting of its Brokerage and Asset Management (BAM), Local Consumer Lending (LCL), and Special Asset Pool (SAP). In April 2010, Barclays PLC acquired Italian credit card business of Citibank International Bank plc. In May 2010, the Company announced the creation of a new Collateral Management Services unit within its Securities and Fund Services business.

Shares of Citigroup, Inc (NYSE: C) traded up 2.48% during mid-day trading on Monday.