People moves: Patterson moves to advisory role at Citi
Alan Patterson, head of the financial institutions group at Citi, is moving on from origination to a new role of capital management advisory. He will report to Valentin Ehmer, who runs the fixed income and derivatives product group.
Over the past few years, Citi appears to have concentrated on market share but critics say that it has lost out to competitors on solving problems. After looking after FIG origination for seven years he will have a sturdy new challenge to get to grips with.
"Alan is going to be running a multi-disciplinary, quantitative, product specialist, capital management advisory group. He is the perfect person to lead this because of his 20 years’ experience of dealing with financial institutions in Europe," says Charlie Berman, co-head of European debt capital markets at Citi. "It’s a major initiative from us, I’m not saying we are the first but he will certainly have more products and disciplines at his fingertips than others in the market."
Citi is joining a long list of firms that have tried to get away from a silo-based approach to client opportunities and solutions with an agnostic viewpoint.
Although Patterson will no doubt focus personally on the financial institution side of things, he will have a broader brief than just FIG.