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Citigroup Appoints New Head of Prime Broker Unit

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NEW YORK (–Seeking to become a bigger player in the hedge fund prime brokerage world, Citigroup Inc. appointed Ali Hackett as head of its global finance sales and prime broker group, a new position.

In an internal memo obtained by HedgeWorld, Bill Heinzerling, Citigroup’s head of global finance, said Ms. Hackett’s appointment would allow Citigroup to consolidate its finance sales and prime broker units under one person.

“It enables us to deliver more specialized focus to hedge funds, which are an increasingly important client segment across the whole spectrum of fixed-income, equity, futures and [foreign exchange] products,” Mr. Heinzerling wrote.