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Now Citi hired a senior rates trader from Morgan Stanley

Citi may be cutting jobs, but as we noted yesterday, it also has a few gaps to fill in its London European government bond trading team. It's quietly hired Michele Beretta, Deutsche Bank's prized hire of 2023. It's also quietly poached Fiachra Harnett, Morgan Stanley's head of Sovereigns, Supranationals and Agencies (SSA) trading in London.

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Citi declined to comment for this article, and Harnett didn't respond to a request to elaborate on his whereabouts. He's not at Morgan Stanley, though, and multiple sources say he's on the way to Citi, possibly via a period of gardening leave.

Citi needs some new EGB traders having lost various senior members of its team (James Konrad and Biagio Lapolla) last year, and then various more junior members of its team (Ayoub Morsad,Giorgio Paulin and Rahul Mehra) this year.

Before being lured to Citi, Harnett spent almost his entire 16-year career at Morgan Stanley in London. He joined in 2010 after completing an MBA at University College Dublin. 

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AUTHORSarah Butcher Global Editor

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