JPMorgan Expands Tech Investment Banking with Citi Hires

JPMorgan Chase is expanding its technology investment banking team by hiring Dan McDow from Citigroup. McDow, who has spent four years as Citi's global head of software investment banking, will join JPMorgan in New York later this year.

According to a memo seen by Reuters, McDow has two decades of experience in investment banking and previously worked at Credit Suisse. His hiring is the latest move by JPMorgan in its technology investment bank, which is experiencing buoyant dealmaking activity due to recovering valuations within the software space and growth in artificial intelligence.

McDow will head the east coast technology investment banking business, while David Fishman, who will join from Bank of America, will become the head of North America technology mergers and acquisitions. Both McDow and Fishman will sit on JPMorgan's Technology M&A Leadership and Advisory Council.