JPMorgan Poaches Citigroup Exec for East Coast Tech Banking Role
JPMorgan Chase has hired Dan McDow from Citigroup to lead its east coast technology investment banking business, according to a memo seen by Reuters. McDow will join JPMorgan in New York later this year after spending four years as Citi's global head of software investment banking.
The hiring is part of JPMorgan's expansion efforts in the tech sector, which has seen a surge in dealmaking due to recovering valuations within the software space and growth in artificial intelligence. The bank has also hired David Fishman from Bank of America as head of North America technology mergers and acquisitions.
Fishman and current Head of Technology M&A Vineet Seth will sit on JPMorgan's newly-formed Technology M&A Leadership and Advisory Council, along with McDow who will be leading the east coast tech investment banking business. The move is seen as a strategic step for JPMorgan in capitalizing on the growing demand for technology services.