Citi's New York office made a major hire from JPMorgan in London

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Citi has recruited an executive director from JPMorgan in London to join its office in New York.

Guillaume Flamarion, JPMorgan's former head of EMEA (Europe, the Middle East and Africa) equity derivatives payoff structuring, has joined the U.S bank as the co-head of its multi-asset group for Americas earlier this month. Flamarion will co-head Citi's New York-based structuring team for payoff and systematic strategies, covering both retail and institutional clients.

Flamarion spent seven and a half years at JPMorgan after starting his career at HSBC as an equity derivative structurer in 2006. Two years later, he moved to Societe Generale and remained there for almost four years before joining JPMorgan in 2011. At JPMorgan, he was responsible for implementing large, tailor-made hedging solutions for institutional investors in Europe, developing structured products for retail distribution in America, and for developing systematic trading strategies for retail and institutional investors.

Flamarion's move to New York with Citi comes at a time when London investment banking jobs are going off the boil because of Brexit. Last week, one Morgan Stanley former Morgan Stanley trader reflected that Brexit machinations are making life in London "pretty miserable" for bankers. Many London bankers do not want to move to Europe. As such, Flamarion - who is French and studied quantitative finance at École nationale supérieure des mines de Paris (Paris Mines) may not be the last person to make the move to New York.

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