Citigroup Inc., on the heels of announcing a $2.2 billion deal to acquire the London-based investment banking operations of Schroders PLC, said it has created a three-member team devoted to sharpening corporate strategy and identifying acquisition opportunities.
Victor Menezes, Deryck Maughan, and Schroders chairman Win Bishoff each have added the title of regional business executive to their current titles.
Mr. Menezes, co-head of corporate and investment banking and president of Citibank NA, is regional executive for emerging markets. Mr. Maughan, vice chairman and head of strategy and business development, is regional executive for Japan. Mr. Bishoff will take on the duties in Europe.
The three will also act as senior representatives to governments and customers in their respective regions, according to a memorandum distributed late Thursday from Sanford I. Weill and John S. Reed, chairmen and co-chief executives, and Robert E. Rubin, co-chairman of the board's executive committee.
"We will increase the scope and responsibilities of the Citigroup mergers and acquisitions group, which will now include the responsibility to develop, and coordinate with the business units, a strategic vision for our acquisition activity across the company," the memo read, in part.
