Moving swiftly to retain key executives as it prepares to integrate the investment banking operations of London-based Schroders PLC, Citigroup Inc. has named several Schroders bankers to top spots in the combined company.

The appointments were announced Monday in a joint internal memo from Michael Klein of Salomon Smith Barney and Panfilo Tarantelli of Schroders. Mr. Klein and Mr. Tarantelli will jointly run investment banking at Schroders Salomon Smith Barney, the new company.

Citigroup agreed last month to buy Schroders' investment banking operations in a $2.2 billion deal intended to bolster Salomon Smith Barney's European banking group. The deal is subject to regulatory approval.

Smaller investment banks in Europe have faced fierce competition from U.S.-based bulge bracket firms such as Goldman Sachs Group and Morgan Stanley Dean Witter & Co. At yearend Salomon and Schroders ranked Nos. 11 and 10, respectively, in the league tables for European mergers advisory firms.

By combining, the firm will jump to No. 6, according to Thomson Financial Securities Data. Schroders already had an edge over Salomon in investment banking in the United Kingdom.

John McNeil, head of Schroders' U.K. banking group, will hold the same post at the new company. David Wormsley from Schroders will oversee corporate finance in the United Kingdom, and Mark Warham from Schroders will be head of mergers and acquisitions advisory.

Anthony Nelson, who was head of Salomon's U.K. banking group, was named vice chairman of the combined company. Three other vice chairmen are to include Robert Swannell, currently a vice chairman at Schroders; Renato Ruggiero, currently a vice chairman at Salomon; and Ronald Freeman, currently co-chief executive officer of Salomon's European operations.

Positions for other regions will be shared by Schroders and Salomon bankers. The co-heads for investment banking in France will be Marc Vincent from Schroders and Arnault de Torquant from Salomon. Co-heads in Germany will be Frank Muller from Schroders and Michael Fabich from Salomon.

Mr. Ruggiero will be chairman of SSSB Italy, and John Andrew from Schroders will be head of operations in Italy. Guy Harington, an investment banker in Italy for Schroders, will become head of investment banking for emerging markets in Europe. Mr. Freeman will be chairman of SSSB Emerging Markets.

Separately, Credit Suisse First Boston said Tuesday that it has agreed to buy Schroders' Japanese investment banking operations.

Terms were not disclosed. The deal is scheduled to close in March, the company said.

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