Citi moves quickly to elevate banking analyst after Goldman raid
After losing its lead bank analyst to Goldman Sachs, Citi has promoted its second in command. But that's unlikely to stop the upheaval amid a fierce war for talent.
More volatility is expected in the once stable bank analyst ranks as Citi moves quickly to fill the gap left by its lead analyst who was poached by Goldman Sachs.
After Capital Brief this week revealed Goldman had lured Citi’s lead analyst, Brendan Sproules, across with an “aggressive offer”, this publication learned today his second in command, Tom Strong, will now step up and take on coverage of the major bank stocks.
However, this is not necessarily the end of the musical chairs – particularly with the increased money at stake.
A Citi spokesperson told Capital Brief “Citi will continue to invest in our advisory research offering as we look to build on our 2024 Top 5 market share and position. We have a deep bench and look forward to supporting our clients across our market leading research offering.”
