Citigroup Global Markets Australia has hired Andrew Best, derivatives sales at Macquarie Bank in Sydney, in a new role as head of institutional sales in Sydney. Luke Randell, managing director in trading and derivatives in Sydney, said Best will be responsible for running the institutional sales team of five, marketing over-the-counter and exchange-traded instruments, program trades and convertible bonds. "We were waiting for the right guy," said Randell, to whom Best now reports. The institutional sales team had previously reported to Randell.
The hire is part of the bulk-up of the equity desk that began last year (DW, 9/8). Best, who starts in the coming weeks, could not be reached.
At Macquarie, Best reported to Greg MacKay, head of equity derivatives in Sydney, who declined comment.
