Citigroup will complete next month the £500m (€739m) flotation of Xchanging, the UK outsourcing group that counts some of the world's biggest banks among its clients

Xchanging, which has been backed since its creation in 1999 by US information technology and outsourcing venture capital firm General Atlantic, is targeting a London listing, run by joint global co-ordinators Citigroup and UBS. Xchanging said today it will complete the deal "in late April".