RPT-MOVES-Desombre joins Citi from Credit Suisse

Tue Jul 22, 2014 10:01am EDT

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LONDON, July 22 (Reuters) - Citi has hired Credit Suisse banker Nicolas Desombre to lead its investment bank in France, the latest in a series of senior hires in Europe to help strengthen its operations in the region.

In a memo to employees seen by Reuters, Citi said Desombre will also run its global insurance business alongside Gautam Chawla. He begins in October and will be based in Paris.

His appointment follows a series of hires at Citi's European operations. Last year it poached Deutsche Bank's Ben Story to head its UK investment banking and broking unit.

Citi has been beefing up its European business, targeting a place in the top five league tables in the region. It ranked sixth for investment banking fees in the first half of the year, according to Thomson Reuters data.

Desombre was head of insurance in Europe, Middle East and Africa (EMEA) and France's financial institutions group at Credit Suisse, where has spent 15 years. He has also worked for Credit Agricole and JPMorgan, according to his LinkedIn profile.

Citi has also lost a number of bankers recently, with Paul Tomasic, a dealmaker in the healthcare sector, the latest departure. Sources told Reuters on Monday that Tomasic has left the Wall Street bank for Royal Bank of Canada, where he will lead its healthcare investment banking coverage in Europe.

(Reporting by Clare Hutchison, editing by Louise Heavens)

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