A Citi MD who left in 2023 can't seem to get comfortable
Don’t let your new job get in the way of your dream job, some people say.
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Bouhari Arouna seems to have followed that logic. An 11-year veteran of Citi’s equities sales & trading group in New York, he left the bank as a managing director (MD) in the equity derivatives sales team in June last year to join Mizuho in the same capacity.
He left again at the end of May this year, and as of last week is Bank of Montreal (BMO) Capital Markets’ US head of hedge fund and asset management sales. He'll be reporting to Hippo Agkpo and John Mitrano, the firm's co-heads of global equities and financing solutions.
It's not clear why Arouna left Citi, or Mizuho, but Mizuho in particular might regret his departure. Equity derivatives is the hot spot in financial services at the moment, with volatility driving rising revenues.
While finance continues to be, in Morgan Stanley CEO Ted Pick’s words “an equities world,” banks that have prepared for the moment are flourishing.
BMO itself began building out its prime brokerage team back in 2022 with Thomas Guagliardo and Robert Luzzo, both BNP Paribas veterans, although Guagliardo has since left the firm. It also hired Kavel Patel from Citi back in 2021 to start building out its electronic trading team in London. Agkpo is also a new hire for the bank, having joined at the start of the year from Credit Suisse, where he was global head of structured derivatives.
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