Philip Drury will head up the recently formed banking, capital markets and advisory business at Citi for the EMEA region.
Deutsche Bank’s plans will involve a significant reduction in headcount across the US and Asia.
The top 12 investment banks struggled with equities trading in the first quarter but bounced back in FICC trading.
Deutsche Bank dropped two places in a top 10 global investment bank ranking, as revenues fell 20%.
Revenues across top 10 investment banks continue to fall across fixed income and equities trading.
Investment banking revenue in 2016 expected to decline for fourth year in a row.
Analysts at JP Morgan predict further slumps in investment bank revenues as trading floors remain quiet.
Job cuts in financial services surge as “Wall Street executives are trying to shrink staffing levels as profits remain under pressure,” says Integrity Research.
JP Morgan internal memo shows who will take over leadership of its Equities Technology Strategy Council.
The deal marks the latest pull-back from investment banking operations by Barclays.