Now JPMorgan's head of private markets resigned, seemingly for Citi
The resignations are still coming thick and fast. Fresh from recruiting Pankaj Goel from JPMorgan to co-head its technology, media and telecoms banking business, Citi has seemingly recruited Nicolas Skaff, JPMorgan's head of private capital markets.
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Citi didn't confirm Skaff's appointment, but sources at JPMorgan say that Skaff resigned yesterday and that he is thought to be heading for the rival bank. JPMorgan declined to comment. Skaff himself didn't respond to a request to comment.
Skaff is one of various people at JPMorgan whom Vis Raghavan at Citi is thought to be targeting to move across. Raghavan has run Citi's investment bank since last year, but he previously spent 25 years at JPMorgan. He's also thought to be targeting the likes of Ina De, co-head of JPMorgan's strategic investor group, Amanda Sharman, JPMorgan's EMEA head of equity capital markets execution, and Ashish Jhajharia, JPMorgan's head of EMEA equity capital markets syndicate.
As we reported yesterday, people at JPMorgan in London suspect that whenever anyone is off the desk they have gone to Citi, even if they are simply on holiday. Raghavan previously worked for JPMorgan in London and therefore knows plenty of people he might like to hire there.
Skaff joined JPMorgan from Deutsche Bank in 2018. He was promoted to run the private markets business in Europe 2022. At the time, JPMorgan described this as it's "number one strategic area," so Skaff's exit is unlikely to be taken lightly.
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