Citigroup has named Ali Hackett the head of prime brokerage and global finance sales at the firm, a newly created position, according to published reports.

Najib Lamhaouar, formerly the head of global sales for futures, will take over Hackett’s old responsibilities as the head of futures at the firm. Hackett’s new spot was created so that Citigroup could keep its prime brokerage business in better order and to ramp up its efforts in the field of servicing hedge funds, Reuters reports.

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