global equity head for citi private & consumer bank

SPACs raise capital through an IPO without revenue or assets. 1 in US SPAC initial public offerings, having led 84 transactions worth about $16.7 billion collectively, Refinitiv's data showed. A further $114 billion in SPAC IPOs has been raised to date this year, well ahead of the $30 billion raised during the same period in 2020, according to Refinitiv data.Ĭiti sits sixth for overall US equity-capital-markets activity, but it's No. Year to date, about $256 billion in equity-capital-markets deals has crossed the tape for US companies, up from $239 billion. 'We've been active in private-capital raising for a long time, but what we haven't had is much dedicated infrastructure pre-IPO capital raising,' Adams said. These additions come after Citi hired John Collmer as its global head of private capital markets from Bank of America, and Brian DeLeo, a managing director from UBS to focus on tech equity capital markets, last month.

Abramovitz will focus on late-stage private companies, the spokesperson said. Alex Abramovitz, a vice president with JPMorgan in Hong Kong, will also join Citi to cover privates across Asia. Directors Blake Best and Greg Werntz, along with Vice President Michael Castelli, are joining from Bank of America's private-capital-markets group in the coming months, a spokesperson for Citi confirmed. We need to become important to these companies earlier in their life cycle.'Ĭiti has recently nabbed four bankers to bolster the team. 'Today, you need to be in the pre-IPO to be in the IPO.

'Historically, we believed you had to be in the LBO to best position for the IPO,' Douglas Adams, Citi's global cohead of equity capital markets, told Insider of leveraged buyouts. It's targeting young companies in areas of growth like tech or healthcare that Citi can nurture through private markets, like early-stage financing events, before tackling public markets. To cash in on that momentum, Citi's eyeing IPO potential and has boosted personnel in private capital markets.

It's been a watershed year for equity capital markets as investment banks juggle soaring stock prices, traditional initial public offerings, and special-purpose acquisition companies. Douglas Adams, a global cohead of ECM, said Citi needed to be in the pre-IPO to be in the IPO.It is sixth in US ECM league tables, but it's the market leader in SPAC initial public offerings.Citi has beefed up its private-capital-markets team with four hires in the US and Hong Kong.Account icon An icon in the shape of a person's head and shoulders.

Global equity head for citi private & consumer bank