Citigroup hired a Deutsche Bank dealmaker to bolster its technology investment banking team in Europe, a key focus for the US bank as it looks to take advantage of so-called mega-trends.
David Ibáñez as joined Citi as a managing director within its technology group in Europe, the Middle East and Africa, according to an internal memo seen by Financial News.
He has spent nearly five years at Deutsche Bank, latterly as a managing director within its technology, media and telecoms unit. Ibáñez has also worked at Goldman Sachs and JPMorgan, as well as a stint as a management consultant at McKinsey.
“Technology in EMEA is one of the fastest growing franchises in Banking, Capital Markets and Advisory and represents one of the greatest opportunities to close our competitive gap,” said the memo from Yishai Fransis, head of Emea technology corporate and investment banking at Citi, who also joined from Deutsche in 2018.
Citigroup is making a global push in technology and communications investment banking, installing its head of BCMA for Emea, Philip Drury, to lead a new ‘super group’ at the bank from San Francisco to aimed at capitalising on technological disruption.
The division will combine technology and communication and will comprise around 400 bankers, Drury told FN, adding that the plan was to expand. “We will invest meaningfully in the combined franchise and I am highly motivated by the opportunity,” he said in April. “We have big ambition.”
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