Citigroup has hired three European-focused executives to its utilities investment banking team as part of a rebuild following the loss of six bankers to Lexicon, a UK corporate finance advisory house, earlier this year.

Jim Long, who took charge of the team after Reed Gomm, his co-head of the European sector team, left in February, said: "We have repositioned the team in anticipation of increased activity levels on the continent in the utilities sector."