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Citigroup names de Vecchi to banking job in Europe

LONDON (AP) -- Citigroup Inc. on Monday announced the appointment of European banker Luigi de Vecchi as chairman of Continental Europe for Corporate and Investment banking.

De Vecchi will be based in Italy. He has been global co-head of investment banking at Credit Suisse for three years. Before that, he held other senior positions at Credit Suisse, Goldman Sachs and Kleinwort Benson in Europe, the U.S. and Brazil.

Shares of New York-based Citigroup fell 56 cents to $42.47 in afternoon trading amid a broader market decline.