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Senior Asian head at Citi leaves bank and goes it alone

Dylan Halterlein, Citi’s Hong Kong-based head of Asia Pacific Delta One trading, has left the bank to make private investments.

One of the most senior traders in the Asian banking sector, Halterlein was at Citi for almost five years as a managing director, according to his public profile. He departed last month and now describes himself as a “private investor”.

Halterlein’s main focus at Citi was expanding its synthetics footprint in Asia across ETFs, swaps and stock loans, acting as a bridge between the firm’s equities and prime finance businesses.

Prior to Citi, Halterlein worked for Goldman Sachs in Japan and Hong Kong between 2003 and 2012, and helped the bank build out its Delta One platform in Asia. He was head of trading for Asia Pacific One Delta (2010 to 2012), head of trading for Japan and Korea One Delta (2008 to 2010), and head Japan program trading (2006 to 2008). He made MD at Goldman in 2006 and partner four years later.

Halterlein started his career in 1992 at Susquehanna International and spent five years as an equity options trader in San Francisco and Japan. He then joined Deutsche Bank Securities in Tokyo, focused on index and single-stock options trading, and program trading.

Despite the loss of Halterlein, Citi has been building its Delta One team globally. As we reported in late November, it hired three New York-based traders in the space of a month: Kai Chen from UBS; David Rustico from Barclays; and Christopher Shanks from Bank of America Merrill Lynch.

Delta One specialists, who trade securities that track an underlying asset as closely as possible, are in short supply and (comparatively) high demand in Asia, especially at a senior level. In August, for example, Dereke Seeto left Credit Suisse to join Societie Generale in Hong Kong as head of securities finance and Delta One sales for Asia Pacific.

Image credit:  fanjianhua, Getty

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AUTHORSimon Mortlock Content Manager

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