People: Citi streamlines capital markets – again
New heads of fixed income, loans and equity appointed in Europe – Berman takes banking role.
Citi has taken another step to merge its origination client-facing functions in EMEA. The region’s capital markets chiefs, Michael Lavelle and Atiq-ur-Rehman, have made changes to align their various businesses under EMEA banking head Tom King. King was head of investment banking but in June was also given the coverage functions for the corporate bank and capital markets; a move that creates a single origination platform where before there were at least three.
Lavelle and Rehman have made Eirik Winter head of fixed-income capital markets. This is an expanded business that now includes syndicate, capital markets strategy and liability management. Winter’s former co-head, bond market veteran Charlie Berman, is moving internally into the banking division. He will be responsible for coordinating the coverage model between investment banking, the corporate bank and capital markets in EMEA.
Leveraged finance, investment-grade loans, loan syndicate and loan trading businesses are now run as one unit headed jointly by Paul Simpkin and Richard Basham. The former European head of leveraged finance, Scott Miller, will work on the Citi’s legacy of leveraged loan portfolio.
Steve Victorin, who was head of loans for Europe and North America, returns to New York to work on the corporate loan portfolio there.