UBS Group AG Gains Citigroup Inc.’s North America Co-Head of Technology and Communications Equity Capital Markets: Insights into Shifting Dynamics within the Banking and Finance Sector.

In recent developments, Citigroup Inc.’s North America co-head of technology and communications equity capital markets, Gregor Feige, has left the bank to join UBS Group AG. This news was reported by sources familiar with the situation. Feige had joined Citigroup in 2022 after serving as co-head of Asia ex-Japan ECM at JPMorgan Chase & Co. His co-head, Josh Li, will now assume the role of sole head of TMT ECM.

This departure marks a shift within the banking and finance sector as more deals are being finalized. The industry is seeing positive signs of recovery and growth, with several new deals being announced. The addition of new talent like Viswas Raghavan from JPMorgan to lead Citigroup’s new banking division also suggests that there is a noticeable improvement in sentiment within the industry. However, it is typically a delay before these announcements translate into revenue for the company.

Overall, these changes suggest shifting dynamics within the banking and finance sector as it continues to rebound in response to the global economic recovery. It remains to be seen how these changes will impact the market in the coming months.