One of Citigroup’s most senior corporate brokers has quit to join a rival, leaving just two of a five-strong group of managing directors poached from Hoare Govett in 2005 with the promise of multi-year, multi-million pound bonuses, still with the US bank.

Andrew Thompson, the most recent leaver, will join Deutsche Bank as a managing director in corporate broking in the autumn, according to sources familiar with the situation.