UBS Group AG has hired Gregor Feige, the co-head of technology and communications equity capital markets at Citigroup Inc.’s North America division, to lead its TMT ECM. Feige had previously served as co-head of Asia ex-Japan ECM at JPMorgan Chase & Co. before joining Citigroup in 2022. Representatives from both Citigroup and UBS have declined to comment on this development.
In addition to Feige’s departure, Citigroup has recently brought on Viswas Raghavan from JPMorgan to lead its new banking division as dealmaking activity begins to pick up steam. CEO Jane Fraser noted at an investor conference that there has been a noticeable improvement in sentiment, with several new deals being announced. However, it is typical for these announcements to take time before they translate into revenue for the company.
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.