Dan Keegan, head of Citi’s global cash equities business, has been promoted and will head the broker’s Equities business in the Americas.
In a memo obtained by Traders Magazine, Keegan’s promotion is effective immediately. He will be relinquishing his global cash equities responsibilities. According to a Citi source, the new role is much different than his previous one in cash equities and a different set of responsibilities. Now, Keegan oversees all U.S. equities operations, including derivatives such as options.
The changes come about as Rick Bartlett, Citi’s North American equities head who has been on an extended medical leave since the start of the year, is unlikely to return to his role, according to the broker.
“Dan brings to this role a wide range of experience in managing broad teams of professionals, a dedication to innovation and an in-depth understanding of our client base and culture,” the memo told employees.
Replacing Keegan as global head of cash equities is Kevin Russell, who is currently Citi’s head of trading for the Americas. Russell will maintain his role as head of trading for the Americas.
“We have made great inroads in innovation, efficiency and retention in recent years and look to Kevin to ensure we move forward in a globally consistent and effective manner,” the memo added.
