UK - Citigroup Alternative Investments has poached Owen Thiers from Deutsche Bank as it ramps up its hedge fund sales efforts in the UK and Europe.
Thiers will join Philip Anker who moved to Citigroup from Deutsche Bank Absolute Return Strategies to head up Citi's European sales in October last year.
“The hire of Owen reflects CAI’s commitment to build up its presence and to establish itself as an alternatives partner of choice in some of the major institutional marketplaces in Europe,” said Anker.
Thiers joins Citigroup Alternative Investments’ global sales team, as director and head of institutional sales for the UK. He has been tasked with raising the profile of Citigroup’s alternatives business in the UK pension fund and consultant community.
Thiers joins from Deutsche Bank where, most recently, he was representing the fiduciary hedge fund products to an institutional client base across Europe. Before that, he was, most notably, the head of institutional sales in the Netherlands for Deutsche Asset Management and had a senior role in the development of portable alpha products.
Late last month, Citigroup disposed of its traditional asset management business in a swap deal with Legg Mason. The deal saw Citigroup took on Legg Mason’s brokerage business, signaling an end of an era for the financial supermarket model pioneered by chief executive, Sandy Weill.
Citigroup Alternative Investments’ Tribeca Global Management (Europe) took on FSA director, Gay Huey Evans in June as president, a further sign of the group’s commitment to alternative investments and its ambition to grow the business into the leading alternatives platform globally.
Citigroup Alternative Investments has US$41.4bn under management, 28% of which is proprietary capital.
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