Nestor stays at Citigroup amid Legg Mason deal

EUROPE – John Nestor, the European head of Citigroup Asset Management, is not joining the outfit’s new parent Legg Mason.

Instead, he’ll be taking a role within Citigroup’s fixed income capital markets operation in London, focusing on pension and asset solutions, according to an internal memo seen by IPE.

“I am pleased to announce that John Nestor, formerly business head of Citigroup Asset Management in EMEA, has joined Fixed Income Capital Markets as a managing director based in London and reporting directly to me,” said global fixed income co-head Valentin Ehmer.

“In his new role, John will focus on pension, asset and liability solutions for European customers, a significant growth opportunity for fixed income.”

Ehmer was “delighted that John is continuing his career with Citigroup and take this opportunity in wishing him every success in his new role”.

Legg Mason spokespeople were not available.

Citigroup exited the asset management business by way of a $3.7bn (€3.1bn) deal with Legg Mason last year.

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