Key Takeaways
- • Citi Private Bank is actively recruiting for a VP of investment manager research role focused on hedge fund and liquid strategies gatekeeping, following recent departures from its alternatives research team.
- • Michael Stein, who served as global head of manager research for liquid strategies and hedge funds, has exited the firm, creating a gap in Citi's hedge fund vetting and selection capabilities.
- • Connor Dougherty, an alternatives gatekeeper on Citi's investment manager research team, has also departed, compounding staffing challenges in the bank's hedge fund selection unit.
- • The recruitment effort reflects Citi's continued commitment to maintaining institutional-grade hedge fund research and manager due diligence services for its private banking and wealth management clients.
Summary
Citi Private Bank is seeking a new VP of investment manager research to strengthen its hedge fund gatekeeping function, according to Citywire. The recruitment initiative comes as the bank navigates recent leadership transitions within its alternatives research division, a critical function for institutional and high-net-worth clients evaluating hedge fund investments.
The departure of Michael Stein, who held the position of global head of manager research for liquid strategies and hedge funds for approximately one year, has created a notable void in Citi's hedge fund vetting capabilities. Additionally, Connor Dougherty, an alternatives gatekeeper on the investment manager research team, has left the firm. These exits underscore the competitive talent market in institutional investment research and manager selection services.
The gatekeeping function—encompassing manager due diligence, performance analysis, and investment recommendation—remains integral to Citi's private banking proposition, particularly for institutions managing substantial allocations to alternative strategies. Citi's client base includes decision-makers overseeing more than $90 trillion in assets globally, according to Citywire's market positioning. The bank's efforts to fill the VP role signal its determination to maintain robust hedge fund research capabilities amid broader industry staffing dynamics.
The timing of this recruitment aligns with a period of significant activity in the alternatives space, where institutional investors continue to evaluate hedge fund allocations as part of diversified portfolio construction strategies.
The departure of Michael Stein, who held the position of global head of manager research for liquid strategies and hedge funds for approximately one year, has created a notable void in Citi's hedge fund vetting capabilities. Additionally, Connor Dougherty, an alternatives gatekeeper on the investment manager research team, has left the firm. These exits underscore the competitive talent market in institutional investment research and manager selection services.
The gatekeeping function—encompassing manager due diligence, performance analysis, and investment recommendation—remains integral to Citi's private banking proposition, particularly for institutions managing substantial allocations to alternative strategies. Citi's client base includes decision-makers overseeing more than $90 trillion in assets globally, according to Citywire's market positioning. The bank's efforts to fill the VP role signal its determination to maintain robust hedge fund research capabilities amid broader industry staffing dynamics.
The timing of this recruitment aligns with a period of significant activity in the alternatives space, where institutional investors continue to evaluate hedge fund allocations as part of diversified portfolio construction strategies.
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