Citi grabs King to head credit research group

Citigroup has hired Matthew King as head of quantitative credit strategy in Europe from JP Morgan Chase.

King, who joins Citigroup in the middle of September, will report to Richard Pagan, managing director of fixed-incomeresearch in Europe.

During his six years at JP Morgan, where he was head of European credit strategy, King built up the credit strategy and credit derivatives strategy departments.

Citigroup said the hire is a another step in the ongoing consolidation of the bank's various European credit-related strategy units into a single team. The ultimate aim is to bring together cash and synthetic credit strategy, credit portfolio analysis and structured credit product strategy under a single roof, said the bank.

"As these products integrate, it is essential that our trading, research and distribution platforms reflect this to better serve the needs of our customers," the bank said.