Citigroup has promoted Hani Rizkallah as its new global head of prime strategy and structuring, based in London. 

A spokesperson from the bank confirmed the appointment but declined to comment further.

Rizkallah has been with Citigroup in prime finance since 2009 when he was director of Europe, Middle East and Africa equity and fixed income prime brokerage product. Prior to that he held vice president positions at Morgan Stanley for two years and Merrill Lynch for six years.

Citigroup’s prime, futures and securities services combines asset servicing with financing in over 80 countries.

Within prime finance, the bank incorporates securities lending data from different sources and provides daily insight into stock loaning. It also has a Delta One structure which provides clients with exchange-traded funds and index financing options across swap, cash, and equity futures, it said.

Eurex in September hired Citi’s former Asia Pacific head of futures trading, Kris Hopkins, to develop the Deutsche Boerse-owned derivatives market’s business in Asia and the Middle East.

In July, Pirum appointed Thomas Veneziano from Citi as its North American head of product.

The bank in July rehired Daniel Philip Slator from Deutsche Bank as business manager in its Citi Global Wealth Investments Markets business, following three senior leadership appointments in the bank's custody division in May, to reflect its European growth strategy, a key strategic market for the division, it said.

Citi and J.P. Morgan in June achieved a 30% reduction in European equities settlement failures using a real-time data network from fintech AccessFintech. This comes as banks in Europe seek to improve their settlement rates to avoid draconian regulation.