Investment bankers never really retire. A couple of months of the proverbial pipe and slippers, and most either return to the financial sector or throw themselves into something equally as demanding.
So it is with Martin Malloy, the former global head of prime finance at Barclays, who retired from the bank in September.
Malloy was based in London, having relocated from New York in 2013. He returned to the Big Apple after hanging up his gloves and six months later he’s back – at Citigroup in the U.S.
Malloy joined Citi’s New York office in April, in a similar role, according to sources close to the situation.
Malloy started his career at Lehman Brothers in 1985, and spent ten years at the bank before joining Daiwa Securities as head of European prime services. But he was as close to a Barclays lifer as it gets – he spent nearly 18 years at the bank in a variety of prime broking leadership roles.
Citi has been making some senior prime services appointments in recent months. In August last year, it poached Simon Kempton, who had previously stepped down as head of prime finance in Europe at Deutsche Bank and Daniel Caplan, who had been Deutsche’s European head of global prime services.
Prime services, despite the capital intensive nature of the business, has proven resilient at some investment banks in the first quarter. Deutsche Bank has said that it wants to expand the business, while Morgan Stanley’s prime services division helped mitigate against losses in its cash equities team.
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