Citi appoints Michael Yannell head of hedge funds

Citi has named Michael Yannell head of hedge funds for investment solutions in its wealth division. Yannell had been serving as interim head and will oversee hedge fund origination, due diligence, structuring and manager oversight. He will report to Daniel O’Donnell, head of alternatives and investment manager solutions.

In the role Yannell will source hedge fund managers and strategies for private wealth clients, lead the team that evaluates managers’ track records and risk controls, design fund structures and investment solutions, and monitor manager performance and compliance. The position sits within Citi’s wealth division and is part of the unit that manages alternative investments for high-net-worth clients.

Yannell rejoined Citi in 2019 as head of hedge fund research. Before returning he worked at firms focused on alternative investments and at other financial institutions, carrying out research and manager selection work that supported private wealth and institutional allocations to hedge funds.

The appointment comes as Citi expands its alternatives capabilities in wealth management. The bank has been building teams and product capabilities for hedge funds, private markets and other non-traditional assets to meet client demand for allocations beyond traditional equities and bonds.

Yannell will report to Daniel O’Donnell and the role groups manager sourcing, due diligence and product structuring under a single head for Citi’s hedge funds effort within its alternatives platform.