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Report: Citigroup plans to revamp i-banking operations

Citigroup Inc. plans to combine its corporate and investment bank with its capital markets origination business as part of a restructuring of its investment banking operations, Business Insider reported, citing "people familiar with the matter."

The bank is reportedly expected to announce the plan on Sept. 6.

The change will also involve top executives taking on new roles. Tyler Dickson, currently global head of capital markets origination, and Manolo Falco, head of Citi's corporate and investment bank in Europe, the Middle East, and Africa, will lead the new combined unit.

In addition, Ray McGuire, the global head of corporate and investment banking, will assume a new role as Citigroup's vice chairman, according to the report.