Deutsche Bank hires former Citi banker Fromm

NEW YORK, June 5 (Reuters) - Deutsche Bank AG (DBKGn.DE) has hired Stephen Fromm, an investment banker formerly at Citigroup Inc (C.N), according to an internal memo obtained by Reuters.

At Deutsche Bank, Fromm will focus on the insurance sector and report to Peter Babej, a co-head of the financial institutions group for the Americas.

Fromm is a former head of the insurance group for North America at Citigroup, the memo said.

Deutsche Bank spokesman John Gallagher confirmed the authenticity of the memo. (Reporting by Dan Wilchins; Editing by Andre Grenon)