Citi faucets Drury to guide newly launched Tech & Comms franchise

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© Reuters. FILE PHOTO: The Citigroup Inc emblem is seen on the SIBOS banking and monetary convention in Toronto

By Pamela Barbaglia

LONDON (Reuters) – Citigroup (NYSE:) has tasked certainly one of its most senior London-based bankers with main its new expertise and communications franchise because the sector advantages from a wave of offers triggered by digital disruption.

British-born Philip Drury, who has been main Citi’s banking, capital markets and advisory enterprise throughout Europe, the Center East and Africa since 2018, will give up London to tackle a brand new world position as Tech & Comms’ head out of San Francisco.

Digital transformation has proved to be a key driver of dealmaking because the second half of 2020, with firms world wide utilizing expertise and knowledge analytics to deal with the fallout of the coronavirus pandemic.

“Tech & Comms is among the quickest rising franchises in world banking, capital markets and advisory and represents one of many biggest alternatives to shut our aggressive hole,” mentioned the memo, which was signed by the co-heads of Citi’s banking, capital markets and advisory enterprise globally, Tyler Dickson and Manuel Falco.

Drury joined Citi in 2000 as an fairness capital markets banker based mostly in New York and shortly rose via the ranks to guide the ECM protection within the Americas in 2011.

The Tech & Comms crew, which incorporates three world heads of communications, Gordon Kroft, Dan Richards and Wilhelm Schulz, will assist Citi’s monetary establishments group to make a joint push on fintech advisory.

Drury will stay answerable for the banking, capital markets and advisory (BCMA) enterprise till a successor is discovered.

Citi additionally introduced that BCMA’s vice chairman Mark Hantho will turn into chairman of the Tech & Comms unit.

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