Tom King, Citigroup Inc.'s head of banking for Europe, the Middle East and Africa, stepped down after 20 years at the company, according to an internal memo.
King left the bank "to pursue other interests," Citi said in the memo Monday. He will be replaced on an interim basis by David Wormsley, the chairman of U.K. banking and brokerage.
King, who worked in London, may be examining offers, including one from the mergers and advisory unit of Barclays PLC, said two people familiar with the matter who declined to be identified. A spokesman for Barclays Capital, the London company's investment banking arm, declined to comment Monday.
Barclays Capital has hired senior M&A bankers who worked at Citi and Morgan Stanley in London to expand its European advisory business. The firm named Mark Warham, a former Morgan Stanley banker, and Matthew Ponsonby, from Citi, co-heads of European M&A in May. This year, former Citi executives Antonio Cacorino and Fredrick Chapey formed a fixed-income finance firm in New York and London.
As head of banking for Europe, the Middle East and Africa, King ran the investment banking and corporate banking activities for Citi. In previous roles, King oversaw global mergers and acquisitions and investment banking in Europe.