Deutsche Bank CEO Josef Ackermann has turned down an approach from Citigroup about taking the chief executive post there, the Financial Timeshas reported.
Mr Ackermann told the world's biggest bank he was "not available" when asked whether he would be interested in becoming CEO and chairman of Citigroup, the FTreported last night.
Charles Prince stepped down as Citigroup chief last month as a result of the subprime mortgages meltdown.
The leading candidate to become Citigroup's next CEO is Vikram Pandit, a former Morgan Stanley executive who now heads Citigroup's institutional business, the FTadded.
The paper said one option would be for former US treasury secretary Robert Rubin, who stepped in as chairman when Mr Prince resigned, to stay on as chairman with Mr Pandit as CEO.