Citi's ex-head of UK & Ireland corporate DCM got a new job
Colm Rainey has resurfaced. Nearly a year after being let go from Citi in what insiders described at the time as a "bonkers" firing, Rainey is back. It's understood that he's joined Credit Agricole instead.
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Neither Rainey nor Credit Agricole responded to a request to comment for this article, but it's understood that Rainey is the new head of Credit Agricole's UK debt capital markets team, starting today.
Rainey spent nearly 18 years at Citi and made managing director there in 2020. He was a popular figure at the bank, and there have been numerous exits following his departure, including resignations and redundancies. Jake Atcheson, one of London's leading insurance bankers, was unexpectedly cut in August. Iman Abdel Khalek its EMEA head of DCM and Zain Zaidi its head of UK, Europe and MEA loans products both resigned in May.
Tommaso Ponsele, who was promoted as head of corporate DCM to replace Rainey at Citi, resigned for Goldman Sachs four months ago.
In August, Citi hired Rob Cascarino from JPMorgan as head of DCM for the UK and EMEA alongside Uday Malhotra, who was previously the head of loans and leveraged finance teams in the region.
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