Home Finance Citi hires Deutsche Bank veteran Frowein to bolster EMEA team

Citi hires Deutsche Bank veteran Frowein to bolster EMEA team

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The emblem of Citi financial institution is pictured at an exhibition corridor in Bangkok, Thailand, Might 12, 2016. REUTERS/Athit Perawongmetha/File Photograph

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LONDON, June 27 (Reuters) – Citigroup (C.N) has snapped up one among Deutsche Financial institution’s (DBKGn.DE) most seasoned funding bankers to bolster its management group answerable for banking, capital markets and advisory (BCMA) in Europe, the Center East and Africa.

Patrick Frowein, a 26-year veteran who beforehand labored at UBS (UBSG.S), is taking up a brand new function in London as Citi’s vice chairman for EMEA BCMA, in response to a memo seen by Reuters.

The appointment comes as Citi is battling for funding banking dominance in Europe the place it competes with different Wall Avenue banks together with Goldman Sachs (GS.N) and JPMorgan (JPM.N) in addition to with European heavyweights equivalent to BNP Paribas (BNPP.PA).

Frowein used to go the funding banking protection and advisory enterprise in Europe at Deutsche Financial institution and was just lately appointed international chairman of the identical unit. His shoppers community, primarily targeted on giant corporations in Germany, Austria and Switzerland, contains the likes of Siemens (SIEGn.DE) and Deutsche Telekom (DTEGn.DE).

In his new function, he’ll sit on numerous BCMA administration committees and can report back to Citi’s EMEA BCMA boss Ignacio Gutiérrez-Orrantia.

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Reporting by Pamela Barbaglia; Modifying by Emelia Sithole-Matarise

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