Citigroup has combined its capital markets origination and global securitisation business in Europe and has merged its European and emerging market debt capital markets teams, in a move that hands two of its most senior credit bankers expanded roles.

In internal memo sent to staff on Monday, seen by Financial News, Michael Lavelle and Atiq Rehman, co-heads of the Emea capital markets group, said they have merged the capital markets origination business and global securitised products and "conduits resources" for Europe, the Middle East and Africa.