Wednesday, April 30, 2008 6:11 PM
Citigroup brings in Bandeen to head global trading
Boyd Erman
Citigroup Inc. has hired Morgan Stanley veteran Derek Bandeen to head its global trading operations.
If the name rings a bell, it may be because Mr. Bandeen is a member of one of Canada's prominent business families. His father, Robert Angus Bandeen, ran Canadian National Railway Co. for almost a decade starting in 1974.
More recently, Mr. Bandeen's brother Ian has led the launch of Pure Trading, an upstart challenger to TSX Group Inc.'s trading monopoly. Two other brothers are also active in the financial business.
Mr. Bandeen (Derek, that is) left the post of head of European equity trading at Morgan Stanley last year. However, he will find many familiar faces at Citi, not least of whom is Vikram Pandit, who also worked at Morgan. Mr. Bandeen will remain based in London.