Citi Hires Morgan Stanley’s Jarman for UK Investment Banking

Citigroup Inc. hired senior Morgan Stanley banker Matthew Jarman as vice chairman of UK investment banking.

Jarman will join Citi in October after 17 years at Morgan Stanley covering sectors including industrials, utilities and real estate, according to an internal memo from James Fleming, head of UK investment banking, that was seen by Bloomberg News. Jarman also previously worked at Lazard Inc.

Chief Executive Officer Jane Fraser’s turnaround effort for the bank, whose shares have lagged behind its Wall Street rivals, includes a push to improve the investment-banking franchise. Fraser hired Viswas Raghavan from JPMorgan Chase & Co. ...