Citigroup has made sweeping structural changes to its investment banking and capital markets operations in Europe, the Middle East and Africa, in an overhaul that brings in new executive management to oversee and spearhead the development of the US bank’s new strategy in the region and globally.

In an internal memo seen by Financial News, Citigroup said it has fully aligned the “front-end” coverage efforts of its investment and corporate banking operations and that of its capital markets origination business, the first time the US bank has done so on joint basis with its “global product and client partners”.