Citigroup has made the latest change in its European equities business by promoting a former top Merrill Lynch trader to lead its planned expansion in Europe, the Middle East and Asia.

Mike Pringle, formerly Citigroup's head of Emea equities trading, was today confirmed as the US financial services conglomerate's new head of Emea equities, reporting to Derek Bandeen, the bank's head of global equities. The post covers sales and trading.