UBS Appoints New Co-Head of TMT ECM, Amidst Shifting Dynamics in Banking and Finance Sector

UBS Group AG has announced the appointment of Gregor Feige as its new co-head of TMT ECM, following his departure from Citigroup Inc. His co-head, Josh Li, will now assume the role of sole 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.

Last month, Citigroup 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, there is typically a delay before these announcements translate into revenue for the company.

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.

Overall, the industry is seeing positive signs of recovery and growth as more deals are being finalized. The departure of Feige and addition of Raghavan indicate that banks are actively hiring and retaining top talent in order to stay competitive in a rapidly changing market.

Representatives from both Citigroup and UBS have chosen not to comment on this development.