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The popular MD who upgraded Citi's equities IT has disappeared

Tristan Knight, the global head of equities trading, prime and clearing technology, is no more. Knight left the bank this month, according to his LinkedIn profile, although sources inform us that he actually disappeared a few months ago as part of the bank's Bora Bora stripping out of layers of management and slimming down of its hierarchy.

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Knight joined Citi's London office in 2016 from Credit Suisse, where he was co-head of equities IT. Citi hired him as a managing director of equity derivatives technology, before promoting him to become global head of equities trading, prime and clearing technology in 2019. 

Although Citi sources say the bank had historically under-invested in equities technology, Knight doesn't appear to have done badly in his role. - Citi said last week that its prime balances were up 10% in the first quarter and that its equities sales and trading revenues were up 5% year-on-year. This may not have been entirely down to technology, however. 

Knight has gone but his hires remain. In 2021, he hired Peter Jepson, head of equity derivatives technology from JPMorgan. Jepson is still at Citi and is managing cash and derivatives technology. Srinivas Manthripragada is understood to be managing prime and clearing technology from Singapore.

Knight didn't respond to a request to comment for this article. People who've worked with him say he's a "very nice guy" who actually "gets things done, which can be hard at Citi." Knight is also praised for being apolitical: "Most people at his level are only good at either managing up or managing down. He's good at both," says one former colleague.

Knight's disappearance comes amidst various complaints about the culture in Citi's equities business, although these apply more to sales and trading than to technology. 

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Photo by Jan Huber on Unsplash

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AUTHORSarah Butcher Global Editor

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