Citi hires Goel from JPMorgan to boost tech banking leadership as hiring spree continues

(Reuters) -Citigroup has hired Pankaj Goel from JPMorgan Chase to co-lead its technology investment banking, according to a memo seen by Reuters on Tuesday.

Goel, who has more than twenty years of technology experience, was most recently global chair of technology investment banking at JPMorgan, according to the memo, signed by Citi’s head of North America investment banking, Jens Welter.

He will lead alongside Mark Keene, who joined Citi in 2019 as head of tech investment banking.

The announcement comes amid a slew of high-profile hires at Citi as the bank expands its investment banking business and revenue.

Last week, the bank hired another JPMorgan alum, Bernal Vargas, to lead its equity capital markets division in North America, according to a memo seen by Reuters. This followed the hiring of Goldman Sachs veteran David Friedland as co-head of Citi’s North America investment banking coverage.

The bank last month also appointed Drago Rajkovic as its co-head of mergers and acquisitions, in another high profile staffing win over rival JPMorgan, where Rajkovic was global chairman of M&A.

Goel’s recent deals include Altair’s $10.6 billion sale to Siemens AG and Altium’s $6 billion sale to Renesas. He also worked on an $11 billion joint venture between Intel and Apollo.

The talent acquisition spree underscores expectations of heightened M&A activity in the second half of the year, as a rallying equities market prices in a softer U.S. trade stance and robust macroeconomic data.

(Reporting by Ateev Bhandari in Bengaluru and Tatiana Bautzer in New York; Editing by Alan Barona)

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