(Reuters) – Citigroup Inc <C.N> on Friday named Douglas Adams and James Fleming global co-heads of its equity capital markets business, which helps companies raise money through IPOs and private placements.
The appointments come at a time the business could be bracing for a dry spell following failed IPOs including WeWork-owner The We Company and disappointing debuts such as U.S. fitness startup Peloton Interactive Inc <PTON.O>.
Citi poached Fleming in 2018 from Bank of America Corp <BAC.N> to co-head its equity capital markets business in Europe, Middle East, and Africa. Citi named Suneel Hargunani to co-head the business in the region.
Adams was most recently co-head of Citi’s equity capital markets business in North America. Citi named Paul Abrahimzadeh and Russell Chong to co-head the business in the region.
(Reporting by Bharath Manjesh in Bengaluru)