Citigroup announced Wednesday that it has recruited five senior banking executives from competing firms to bolster its technology investment banking division in the United States.
The five new managing directors were pulled from Bank of America, JPMorgan Chase, and UBS, signaling an aggressive push by Citi to expand its footprint in the tech sector.
Chris Groe, who recently departed Bank of America, is set to join the New York team in September. He will oversee deal-making in the areas of payments, financial technology, and digital assets.
The remaining four hires will be stationed in San Francisco. Three of them came from JPMorgan Chase: Florian Plath, who will serve as managing director covering software and semiconductor companies; Dhruv Fotadar, who will handle enterprise infrastructure clients in the software and artificial intelligence space; and Anand Agarwal, who will concentrate on semiconductor and AI firms.
The fifth addition, Josh Sheets, is joining from UBS and will focus on vertical software companies from the San Francisco office.
