Citigroup equity sales-trader Michael Ward has quit the firm after 13 years, according to a person with knowledge of his departure.
Bloomberg News reports that Ward, who was a managing director at Citigroup, is joining money manager T. Rowe Price, said the person who asked not to be identified because the banker’s departure hasn’t been announced yet.
In the meantime, Bloomberg also reports that departures of Tokyo-based executives from Citigroup and General Electric Capital put a spotlight on the retreat of foreign lenders from Japan’s banking market.
Nobuhiko Ito, head of acquisition finance and syndicated lending at Citigroup in the capital, and Masahiko Horiba, an executive director in GE Capital’s structured finance unit, both said last month they are stepping down.
Finally, Bloomberg reports that Jefferies has hired Leor Shapiro from UBS for its prime-brokerage business.
Shapiro, 35, will be a managing director and global head of business consulting, a new role that involves advising hedge-fund managers, according to a person with direct knowledge of the matter. He’ll report to John Laub.
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