NEW YORK, Aug 3 - Citi has recruited Rohan Sen from Bank of America to take charge of coverage for the technology services industry, an internal memo reviewed by Citi confirmed. The bank described the hire as a significant step in expanding its technology investment banking capabilities globally.
Sen joins Citi after an 11-year tenure at Bank of America, where he served as a managing director in that firm’s technology investment banking group based in New York. At Citi, he will be stationed in New York and will report directly to Pankaj Goel and Mark Keene, the bank’s global co-heads of technology investment banking.
In the memo, Goel and Keene emphasized that technology services is a "highly strategic" area for Citi and called Sen’s appointment "an important milestone in our ongoing strategy to expand our global Technology Banking franchise of which Technology service is a highly strategic focus area globally." A Citi spokesperson confirmed the contents of the memo. A spokesperson for Bank of America declined to comment.
The hire is the latest in a series of moves by Citi to strengthen its technology investment banking ranks. In July, the bank brought in five managing directors for its U.S. technology investment banking business from competitors Bank of America, JPMorgan Chase and UBS. Those additions included Chris Grosse, Florian Plath, Dhruv Fotadar, Anand Agarwal and Josh Sheets.
Citi this year also added Anand Govind, the former chief financial officer of software company o9 Solutions, as a managing director in technology investment banking. The expansion follows Citi’s earlier recruitment of veteran JPMorgan banker Pankaj Goel as co-head of technology investment banking alongside Mark Keene in 2025, a broader effort by the bank to build out its investment banking franchise and vie for a larger share of advisory assignments across the technology sector.
The series of hires highlights Citi’s focused effort to grow its capabilities and bench strength in technology banking. The bank has combined external recruiting from rival firms with internal leadership changes to position itself for increased advisory activity in technology services and adjacent areas.
Summary
Citi has appointed Rohan Sen, formerly a managing director at Bank of America, to lead coverage of technology services. The move is part of a broader hiring campaign to expand Citi’s technology investment banking franchise and compete for additional advisory work.
Key points
- Rohan Sen joins Citi from Bank of America after 11 years, and will report to Citi global co-heads Pankaj Goel and Mark Keene.
- Citi has recently hired multiple senior bankers for its U.S. technology investment banking team and added Anand Govind as a managing director this year.
- The bank is pursuing growth in technology banking to build advisory capacity and expand its franchise against competitors including Bank of America, JPMorgan Chase and UBS.
Risks and uncertainties
- Competition among major banks for senior talent and advisory mandates in technology banking may affect Citi’s ability to rapidly expand market share - impacting investment banking and advisory services.
- The outcome of Citi’s expansion strategy depends on successful integration of new hires and leadership, a process with inherent execution risks for the investment banking division.
- Recruitment-driven growth does not guarantee an immediate increase in advisory wins; the bank’s stated objective to capture a larger share of technology advisory work remains uncertain.