Bloomberg News reports that Lowrey, former CEO at stock-market operator Chi-X Global, started Tuesday and will assume his title once he receives regulatory approval, according to a July 17 memo from Derek Bandeen, the bank’s head of equities.
Bandeen is working to revamp a unit that’s seen uneven results and executive departures over the last 18 months. Citigroup aims to make its revenue more consistent from one quarter to the next, Jamie Forese, the firm’s president and head of the institutional business, said in June.
In the meantime, Bloomberg also reports that Credit Suisse hired Daniel McNeill of JPMorgan to lead its equity-derivatives unit for the Americas, according to two people with knowledge of the matter.
McNeill will replace James Masserio, a veteran of the lender, who will move into a to-be-determined role at the bank, according to one of the people, who asked not to be named because the information isn’t public. McNeill’s position will encompass all of the bank’s equity-derivatives business for the Americas, including structured products.