The Citi never sleeps.
According to reports in efinancial News, Citi is building out a Delta One desk in New York City.
Citi reportedly hired three senior Delta One traders from its rivals – Kai Chen from UBS; David Rustico from Barclays; and Christopher Shanks from Bank of America Merrill Lynch.
eFinanical also reported that Citi isnt the only firm working on staffing up Delta One. Deutsche Bank is also understood to have poached Rahul Shah from Barclays.
Delta One desks are popular as banks seek to bolster their prime brokerage businesses and increase revenues from synthetic financing without exposure to additional risk.
