* Hires Ben Story from Deutsche Bank
* Follows senior hires from GS, CS
By Anjuli Davies
LONDON, April 25 Citigroup has appointed
former Deutsche Bank dealmaker Ben Story as head of UK
investment banking and broking, the latest in a string of senior
hires to bolster European investment banking.
Story, who will join Citi in May and report to co-heads of
corporate and investment banking in Europe, the Middle East and
Africa, Manolo Falco and James Bardrick, was previously head of
the global industrials group for EMEA and Asia Pacific at
Deutsche Bank, the bank said on Thursday.
After unveiling a $1.1 billion expense reduction plan in
December under new chief executive Mike Corbat, including the
elimination of 11,000 jobs or 4 percent of the workforce, Citi
is beefing up its European operations in a bid to break into the
top five in league tables in the region.
In February, the U.S. bank poached veteran dealmaker Luigi
de Vecchi from Credit Suisse as chairman for corporate
and investment banking in continental Europe.
Earlier this month, the bank hired Christian Kames as head
of M&A in Germany, Austria & Switzerland from Goldman Sachs
Tom Massey, previously head of the chemicals and metals and
mining in EMEA at Citi, was also appointed in April to lead the
European M&A team.
"We expect M&A to pick up across Europe, where there is an
increasing sense of stability. A positive result from the German
elections, leading to a 4-5 year plan to take Europe forward,
could be a major trigger," said Falco.
Citi ranked fifth globally for investing banking fees in
2012 but slipped to eighth place in the Europe, Middle East and
Africa region, according to data from Thomson Reuters.