Citi Tech 2024

Based on the most helpful WSO content, here's what you need to know about Citi's Tech Group in SF:

Recent Developments:

• Restructuring and Hiring: Citi's tech team has undergone significant restructuring and verticalization down to the analyst level. They have been aggressively hiring MDs from various firms.
• Key Hires: They have recently hired the co-head of TMT from Jefferies to head Growth Equity and another sponsors banker from Wells Fargo.

Deal Flow and Exits:

• Deal Flow: Historically, Citi's SF Tech group has faced criticism for lack of deal flow and exits. However, recent changes and key hires suggest an upward trajectory.
• Exits: Approximately 50% of analysts in the recent cycle have exited to major firms like Thoma Bravo, Silver Lake, KKR, Bain, and Carlyle.

Comparisons:

• BofA Palo Alto: Citi's SF Tech group is still catching up in terms of deal flow and exits compared to BofA Palo Alto.
• JPM and Evercore: GS, MS, Q, and EVR are considered top groups in terms of deal flow, culture, and exits. Citi is seen as an expected riser but still trails behind these top firms.

General Sentiment:

• Positive Outlook: Despite past criticisms, the recent restructuring and key hires have positioned Citi's SF Tech group as a promising contender in the tech banking space.

For more detailed insights, you might want to explore specific threads on WSO related to Citi's SF Tech group and other tech banking rankings.

Sources: Citi Tech - Weakest Group in SF, Top Tech Groups - SF, SF Tech Banking Rankings, Top Tech Groups - SF, Citi Tech SF Superday Help