September 6, 2018 / 10:28 AM / 16 days ago

Citigroup to overhaul its investment bank - Business Insider

(Reuters) - Citigroup Inc is set to announce a restructuring of its investment banking operations and top executives are taking on new roles, Business Insider reported on Thursday, citing people familiar with the matter.

FILE PHOTO - The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren

Citigroup will combine its corporate and investment bank with its capital markets origination business, the financial news website reported.

Ray McGuire, the global head of corporate and investment banking, will take on a new role as vice chair of Citigroup, the report said.

The bank was not immediately available for comment.

Reporting by Bharath Manjesh in Bengaluru; Editing by Maju Samuel

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