Technology and non-technology companies alike have been acquiring software companies to help modernize a range of various industries from retail to industrials. Citigroup's move shows how bankers specializing in the sector have become sought after on Wall Street.
Brian Marshall will join Citigroup from Credit Suisse Group in San Francisco, the memo said. Marshall was a former research analyst and also worked as head of corporate development at analytics software company Hortonworks.
Marshall will be the bank's co-head of software, alongside Sam Kumar, who joined the bank in 2015 and covers Softbank Group Corp.
Citigroup has also appointed Jim Mackey, a former executive at Canada's Blackberry Ltd, to be chairman of software based in San Francisco. Mackey had also worked at Canadian software company Open Text Corp and German technology company SAP, where he helped lead SAP's acquisitions of Sybase, Business Objects and SuccessFactors.
"Jim’s senior relationships, sector knowledge, and deal experience will help accelerate our momentum in the Software sector," Citigroup's global head of technology investment banking Herb Yeh said in the memo. Yishai Fransis, a managing director, will join Citigroup's London Office from Deutsche Bank in October as the head of European, Middle East and Africa (EMEA) Technology.
(Reporting by Liana B. Baker in New York; Editing by Susan Thomas)
By Liana B. Baker
