Citigroup/Schroder Salomon Smith Barney has wasted no time in promoting Marcus Giancaterino to be head of securitisation for Europe, following the departure of Bill Young to Goldman Sachs.

Giancaterino, who will have responsibility for European structured finance and securitisation, has been at Citigroup for 13 years. He was right-hand man to Young, who departed last week to run securitisation at Goldman Sachs.