Citigroup has promoted Richard Evans to head up its electronic execution business globally out of London.
In a statement Citi says Evans will be in charge of one of the fastest-growing parts of its core equities business. He will lead the development and distribution for Citi's electronic execution services, including agency program trading, transaction cost analysis, market data monetisation and the Lava e-trading product lines.
Commenting on his new role, Evans says: "We need this role because our customers are demanding more global solutions. They want consistency of service from us both in the quality of trading and the way they access the marketplace."
Evans says trends previously seen in the US are now growing in Europe, such as fragmentation of the marketplace and the use of more technology: "These have been in progress in Europe but now they are snowballing."
Regional teams will report to Evans, with a local matrix report to the heads of trading or distribution as appropriate.
Evans himself will report to Pete Santoro, Citi's global head of equity trading.