C Citigroup Inc

By Ben Dummett 
 

Citigroup Inc. (C) has wooed a senior banker from rival Bank of America Merrill Lynch (BAC) to co-head its equity capital markets business in Europe, the Middle East and Africa as part of a larger reorganization of its group that is focused on initial public offerings and helping listed companies raise new funds.

The moves further strengthen Citigroup's ECM business in EMEA, which so far this year ranks third measured by revenue behind JP Morgan Chase & Co. (JPM) and Goldman Sachs Group Inc. (GS), according to Dealogic.

James Fleming assumes his new position as co-head of Citigroup's EMEA equity capital markets division starting this fall, according to a memo announcing his hiring. He joins from BAML, where he was most recently co-head of EMEA ECM. Mr. Fleming is based in London.

At Citi, Mr. Fleming will co-head the ECM division with Valery Barrier, who was promoted from his role as head of the investment bank's ECM business in France, Switzerland, Belgium, the Netherlands and Luxembourg, according to the memo. Mr. Barrier is based in Paris.

The two succeed London-based Ken Robins, who oversaw the ECM business in EMEA over the last five years. Mr. Robins will assume the role of chairman of the division, focused on assisting Citigroup's most senior corporate clients tap international investors in the emerging markets for new funds.

Write to Ben Dummett at Ben.Dummett@wsj.com

(END) Dow Jones Newswires

June 25, 2018 09:39 ET (13:39 GMT)

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