Citi Group (C.US) hires five investment bankers from Shenzhen Kaifa Technology to expand its semiconductor, AI, and software business.

Citigroup Group (C.US) in the United States is recruiting five senior investment bankers in the field of Shenzhen Kaifa Technology to expand its business and compete for global market share. According to an internal memo, all new members will join Citigroup as Managing Directors. Specifically, Chris Grosse will join Citigroup from Bank of America Corp to oversee the business in payments, financial technology, and digital assets, starting in September in New York; Florian Plath will join Citigroup in August from JPMorgan Chase, focusing on software and semiconductor companies; Dhruv Fotadar will join Citigroup in August from JPMorgan Chase to oversee business coverage for enterprise infrastructure clients in software and artificial intelligence; Anand Agarwal will join Citigroup in August from JPMorgan Chase, focusing on semiconductor and artificial intelligence companies; Josh Sheets will join Citigroup from UBS Group AG to strengthen Citigroup's business coverage in the software sector.