July 29 (Reuters) - Citigroup ( C/PN ) has hired Pankaj
Goel from JPMorgan Chase ( JPM ) 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 ( JPM ), 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 ( JPM ) 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 ( GS ) 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 ( JPM ), 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.