Citigroup Inc has expanded its budding hedge fund servicing team in London and New York by hiring 13 new employees,the Financial Times said. The hedge fund servicing unit,known as the Global Prime Finance Group,will be helmed by John Nicholson,a former Barclays Capital executive,and Eric Hughson,who joins the company from Commerzbank AG,the paper said. Seven of the 13 new employees were formerly with Lehman Brothers who moved on to Barclays Capital after the British bank scooped up Lehman's North American operations in 2008,the newspaper said. Citi has also hired five new directors who formerly worked at Morgan Stanley,the paper said. Citigroup could not be immediately reached for comment by Reuters outside regular U.S. business hours.
