UBS Group AG has appointed Gregor Feige, co-head of technology and communications equity capital markets at Citigroup Inc.’s North America division, as its new head of TMT ECM. Feige had previously served as co-head of Asia ex-Japan ECM at JPMorgan Chase & Co. before joining Citigroup in 2022. His co-head, Josh Li, will now assume the role of sole head of TMT ECM. Representatives from both Citigroup and UBS have declined to comment on this development.
Last month, Citigroup announced the appointment of Viswas Raghavan from JPMorgan as its new leader for its new banking division. CEO Jane Fraser noted at an investor conference that there has been a noticeable improvement in sentiment, with several new deals being announced. However, there is typically a delay before these announcements translate into revenue for the company.
Overall, the industry is seeing positive signs of recovery and growth as more deals are being finalized. The addition of new talent like Raghavan and the departure of Feige suggest shifting dynamics within the banking and finance sector. As the economy continues to rebound, it will be interesting to see how these changes impact the market in the coming months.
