Key facts
- JPMorgan Chase is hiring Dan McDow from Citigroup to lead its east coast technology investment banking business.
- McDow previously served as Citigroup's global head of software investment banking.
- He has two decades of investment banking experience, including a prior tenure at Credit Suisse.
- David Fishman is also joining JPMorgan as head of North America technology mergers and acquisitions.
- Vineet Seth is being elevated to vice chair of investment banking.
JPMorgan Chase is set to hire Dan McDow from Citigroup to lead its technology investment banking operations on the east coast, according to a memo seen by Reuters. McDow, who spent the last four years as Citigroup's global head of software investment banking, will join JPMorgan later this year. He brings two decades of experience in investment banking, having previously worked at Credit Suisse before moving to Citi.
The move is part of JPMorgan's ongoing expansion within its technology investment banking division. The sector is experiencing increased dealmaking activity, driven by recovering software valuations and growth in the artificial intelligence ecosystem.
In related news, David Fishman is also joining JPMorgan as the head of North America technology mergers and acquisitions, having previously been at Bank of America. Additionally, Vineet Seth, the current Head of Technology M&A, will be promoted to vice chair of investment banking and will serve on JPMorgan's new Technology M&A Leadership and Advisory Council.