Citigroup expands its investment grade bond trading team to prepare for the bond issuance boom driven by artificial intelligence.

Citigroup is expanding its staffing for its U.S. investment-grade bond trading department, joining the ranks of other banks on Wall Street in preparation for a possible record surge in corporate bond issuances next year, driven by the artificial intelligence investment trend. According to sources familiar with the matter, Citigroup has hired Chris Schuville, who previously worked at HSBC Holdings, as the head of its high-grade corporate bond trading team. One source added that Schuville started last week and will focus on the technology, media, and telecommunications sectors. Due to the confidential nature of the details, the source requested anonymity. Larry Liou will also join this month as a credit specialist and will serve as the department's chief analyst. According to his LinkedIn profile, he previously held a similar position at Credit Suisse in the U.S., responsible for multiple industries. Citigroup has been expanding its trading business since mid-year, with former UBS Group trader Joe Griffith joining in October, and former Credit Suisse trader Tifanie Ip joining in July.