Citigroup has made two hires for its mortgage trading group. Shujaat Islam, executive director at Morgan Stanley, has joined the firm as director in mortgage trading with responsibility for trading mortgage derivatives. Sean Duffy joins also as director in mortgages, trading whole loan and non-agency securities from Credit Suisse First Boston.
Danielle Romero-Apsilos, spokeswoman for Citi, confirmed the hires. Mark Lake, spokesman for Morgan Stanley, said Islam left the firm May 12 and declined further comment. Pen Pendleton, spokesman for CSFB, did not return a call by press time. Islam had no comment and Duffy could not be reached.