LONDON, July 22 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
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)