JPMorgan Bolsters Tech Investment Banking with Citi Hires

JPMorgan is expanding its technology investment banking division with two high-profile hires. Dan McDow, currently Citi's global head of software investment banking, will join JPMorgan in New York later this year to lead the east coast tech investment bank. With over two decades of experience, McDow has spent most of his career at Credit Suisse before joining Citi four years ago.

The hiring comes as dealmaking in the technology space is on the rise due to recovering valuations and ongoing activity related to artificial intelligence. This trend is expected to continue, with JPMorgan's tech investment bank benefiting from the surge in demand for M&A advisory services.

In a separate move, David Fishman will join JPMorgan as head of North America technology mergers and acquisitions from Bank of America later this year. Both Fishman and current Head of Technology M&A Vineet Seth will sit on JPMorgan's newly-formed Technology M&A Leadership and Advisory Council.