Citigroup is shaking up its stock-trading group. 3 execs will be in charge of the new-look unit.

Citigroup is restructuring its stock-trading operations and combining several units.

The firm is merging its equities division with its prime, futures, and securities services division (PFSS), according to an internal memo seen by Business Insider.

The memo, from markets co-heads Carey Lathrop and Andy Morton, said the new group - called Equities and Securities Services - will be headed up by three executives: Dan Keegan, Okan Pekin, and Murray Roos.

"We are pleased to announce that we are combining our Equities and PFSS businesses to generate integrated capabilities in all geographies and offer our clients a seamless experience across the value chain," the memo reads. "The new organization - Equities and Securities Services (ESS)- will include broad trading and execution capabilities for electronic and complex structured products, financing and hedging solutions, clearing, custody and funds services."

A Citigroup spokesman confirmed the contents of the memo but declined to comment.

Additionally, Keegan is taking on a new role as head of markets and securities services for North America.

"In this role, he will be responsible for executing our regional strategy, working closely with the functions to ensure strong governance and controls and to maintain a culture of responsible finance.

This is only the most recent in a string of reorgs within Citi's markets division this year. Paco Ybarra was promoted to run Institutional Clients Group earlier this year after Jamie Forese retired, and Lathrop and Morton were promoted to co-run markets in place of Ybarra.

Citi's equities division has traditionally lagged behind its big-bank brethren but has gained market share in recent years, according to data from industry consultant Coalition.

This story is developing.