JPMorgan Chase has hired Dan McDow from Citigroup to head its East Coast technology investment banking business, according to an internal memo reviewed by Reuters.
McDow, who spent the past four years as Citi’s global head of software investment banking, will join JPMorgan in New York later this year. His appointment follows a broader push by the bank to bolster its technology banking franchise amid a rebound in software valuations and sustained deal activity tied to artificial intelligence.
The move is part of a series of hires aimed at expanding JPMorgan’s technology investment banking capabilities. Chris Grose and Greg Mendelson, global co-heads of technology investment banking at JPMorgan, announced the appointment in the memo.
David Fishman, currently head of North America technology mergers and acquisitions at Bank of America, will also join JPMorgan later this year as part of the same initiative. Fishman’s hiring was reported last week.
Vineet Seth, JPMorgan’s current head of technology M&A, will be elevated to vice chair of investment banking as part of the reshuffle. Both Fishman and Seth will sit on JPMorgan’s newly formed Technology M&A Leadership and Advisory Council.
McDow brings over two decades of experience in technology banking, including a prior tenure at Credit Suisse. Citigroup declined to comment on the hiring, while a JPMorgan spokesperson confirmed the memo’s contents.
