Citigroup has hired a senior executive from the London Stock Exchange to lead its market structure division in Europe – the kind of role that has taken on a strategic importance for banks amid the regulatory overhaul of the region's trading markets.

James Baugh, who had been head of sales for both the LSE and Turquoise - the equity market the UK exchange group owns with major banks - will join Citi later this year as a director and head of European market structure, according to people familiar with the situation.