August 21, 2017 / 9:11 PM / 4 months ago

Citigroup taps Goldman activist defense banker for global role

NEW YORK, Aug 21 (Reuters) - Citigroup named Muir Paterson to head the bank’s global team of bankers advising companies on activist shareholders, the bank announced on Monday.

Paterson, whose official title is Global Head of Strategic Shareholder Advisory, previously worked as a senior activist defense banker at Goldman Sachs Group.

The move shows that Citigroup is aiming to expand its reach into the realm of activist advisory work, a segment of banking where demand has surged in the last five years amid a wave of public campaigns by hedge funds, and occasionally mutual funds, for quick and major changes at publicly traded companies. (Reporting by Michael Flaherty)

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