Russell Catley has left his position as UK head of retail equity derivatives at Citigroup Global Markets to set up Catley Lakeman Securities, an investment firm that will be involved in structured products.
Andrew Lakeman, another former senior member of Citi's UK sales team, will serve as a partner in the newly created investment firm (which received FSA approval on 6 August).
Lakeman was responsible for building Citi's retail and structured business in the UK and covered clients ranging from private banks to investment managers. He reported to Russell Catley, who joined Citi in June 2005, to expand the retail and structured products capabilities of the US investment bank.
Both Catley and Lakeman worked in the structured products business at AXA Investments Managers until they moved to Citi.
They were unavailable for comment at the time of going to press.
