Citigroup has hired former Bank of America mortgage chief Barbara Desoer as chief operating officer of its banking subsidiary.
Desoer, 60, will oversee the governance of Citibank NA, the New York-based company’s consumer unit, and report to Gene McQuade, CEO of the unit, according to a memo from McQuade. Desoer’s role starts October 15th, he wrote.
Bloomberg News reports that Desoer led Bank of America’s home lending unit and was once on the list of potential CEOs for the bank.
In the meantime, Reuters reports that JPMorgan Chase, one of Wall Street's biggest advisers and financiers of leveraged buyouts, is set to lose its chief private equity banker to cosmetics maker Revlon this month.
Larry Alletto, currently JPMorgan's global head of its financial sponsors group, is due to join Revlon as chief financial officer, chief administrative officer and executive vice president by the end of the month, according to a Revlon regulatory filing published in July.
And Bloomberg reports that Lazard, the largest independent merger advisory firm, named George Bilicic to run its U.S. Midwest investment-banking business, in addition to his role leading power, energy and infrastructure globally.
Bilicic, 50, started the newly created position in August and is based in Chicago. He reports to Antonio Weiss, global head of investment banking for the Hamilton, Bermuda-based firm, and Chief Executive Officer Ken Jacobs.
Finally, Bloomberg reports that Brevan Howard Capital Management LP has started an investment fund run by a team of former Deutsche Bank market strategists in New York, as Europe’s second-biggest hedge-fund firm expands its presence in the U.S.
The Brevan Howard Strategic Macro Fund is managed by Vinay Pande, a former chief investment adviser at Deutsche Bank who joined the hedge-fund firm a year ago, said two people with knowledge of the matter who asked not to be identified because the firm isn’t yet raising money for the fund from clients.