Barclays Capital and Citigroup have raided rival Deutsche Bank's market-leading credit trading group to build their own fixed income teams.

Citigroup has poached Rached Khanfir from Deutsche Bank in London, where he was a vice president in the integrated credit trading group. He has joined the US bank as a credit analyst, reporting to Priya Nair, the newly appointed head of Citigroup's European credit structuring group. Citigroup is in the throes of building up its European credit structuring group, headed by Nair.