Citigroup has hired two former London-based Deutsche Bank managers for its European client services businesses, as the US bank aims to attract more hedge funds as clients in stock trading and other areas, according to an internal memo sent to employees on Tuesday.

Citigroup named Simon Kempton and Daniel Caplan to senior roles overseeing so-called prime services and sales for Europe, where they will arrange loans, handle collateral and manage stock-trading and custody services for hedge funds and other investment firms, according to the memo reviewed by The Wall Street Journal.