INTERNATIONAL – Citigroup has hired three investment bankers for its technology investment banking group focused on software in the US and in Europe, according to a memo published internally at the bank and confirmed by a spokesperson on Monday.
Technology and non-technology companies alike have been acquiring software companies to help modernise a range of various industries from retail to industrials. Citigroup’s move shows how bankers specialising in the sector have become sought after on Wall Street.
Brian Marshall will join Citigroup from Credit Suisse Group in San Francisco, the memo said. Marshall was a former research analyst and also worked as head of corporate development at analytics software company Hortonworks.
Marshall will be the bank’s co-head of software, alongside Sam Kumar, who joined the bank in 2015 and covers Softbank Group.
Citigroup has also appointed Jim Mackey, a former executive at Canada’s Blackberry, to be chairperson of software based in San Francisco. Mackey had also worked at Canadian software company Open Text and German technology company SAP, where he helped lead SAP’s acquisitions of Sybase, Business Objects and SuccessFactors.