Citigroup has hired Morgan Stanley veteran Rob Lunn to its Citi Investment Management division, according to an internal memo seen by InvestmentNews, marking the latest in a series of wealth and investment hires.
Lunn will join Citi on Aug. 3, and will serve as head of Portfolio Solutions & Investment Specialists in EMEA, according to the memo sent by Kerry White, head of Citi Investment Management, Investment Solutions.
“He will be responsible for driving the growth of managed investments across the region, overseeing our portfolio implementation teams and managed investment specialists,” White said, in the memo. “Rob will work closely with our Multi-Asset Class Solutions, Discretionary Alternatives, and Wealth CIO teams, while partnering with senior Sales leaders across EMEA and the UK to accelerate net new investment asset growth.”
Lunn has spent more than 20 years at Morgan Stanley, according to the memo, and will report directly to White. The memo was confirmed by a Citi spokesperson.
London-based Lunn is currently head of U.K., Ireland and South Africa sales at Morgan Stanley Investment Management, according to his profile on LinkedIn.
Citi has been busy hiring – earlier this month the company hired Matt Newnham to the asset manager relationship team for Citi Wealth. London-based Newnham joined Citi on July 6 and is serving as the managing director responsible for leading asset manager partnerships across Europe, the Middle East, Africa, and the U.K.
On this side of the Atlantic, the company recently appointed Michael Yannell as head of hedge funds for Investment Solutions.
Earlier this year, Citi forged a deal with wealthtech specialist Advyzon to build a unified account structure for clients across much of the globe.
When it reported its fiscal first-quarter results in April, Citi enjoyed its best total revenue quarter in a decade. Wealth revenue grew 11% year over year, driven by growth in the Citigold wealth management service, as well as retail banking and the company’s private bank.
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