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[LONDON] US bank Citi is moving several senior investment bankers to client focused roles as part of a reshuffle detailed in an internal staff memo seen by Reuters.
David Head, who has led or been co-head of Citi's financial institutions group (FIG), is becoming Chairman of FIG globally, focusing on expanding relationships in the sector.
Brad Coleman, who has co-headed global asset managers (GAM) for the past nine years, will become chairman of GAM.
Christian Anderson, head of the diversified financials speciality finance and Anthony Diamandakis, who was responsible for financial sponsor coverage for the Europe, Middle East and Africa (EMEA) region will co-head GAM, the memo said.
Mark Shafir, head of technology, media and telecoms (TMT) and co-head of global M&A, will give up his TMT management role, while Herb Yeh and Jan Metzger will head the bank's global investment banking technology franchise.
Media and telecom would be combined into a single "Communications Group" which would be led globally by Gordon Kroft, Dan Richards and Wilhelm Schultz, the memo added.
Christina Mohr, who has been in mergers and acquisitions (M&A) at the bank for more than two decades, will become Vice Chairman to further develop "C-suite relationships" referring to a corporation's most important senior executives.
The changes, which were confirmed by the bank, would be effective on Wednesday, the memo said.