Citigroup Hires HSBC’s Hodder to Lead Export Agency Finance

Citigroup Inc. hired HSBC Holdings Plc’s Richard Hodder to lead its export agency finance business as the Wall Street giant seeks to expand its trade operations.

Hodder, who spent 26 years at HSBC, is based in London and reports to Chris Cox, who leads Citigroup’s trade and working capital solutions businesses, according to a memo to staff seen by Bloomberg.

Hodder’s team works with export credit agencies, which are typically government-sponsored entities that help private companies develop new trade opportunities overseas. Citigroup already does business with more than 30 of these agencies globally and plans to grow this network, ...