October 11, 2019 / 1:33 PM / 8 months ago

MOVES-Citigroup names global co-heads for its equity capital markets business

Oct 11 (Reuters) - Citigroup Inc 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.

Citi poached Fleming in 2018 from Bank of America Corp 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)

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