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Investing.com -- Citigroup Inc (NYSE:C). has appointed Goldman Sachs Group Inc (NYSE:GS). partner David Friedland as co-head of its investment-banking coverage in North America, according to a memo seen by Bloomberg News on Thursday.
Friedland, who spent 27 years at Goldman Sachs, previously led the firm’s cross-markets group that focused on expanding Goldman’s presence in the middle market. At Citigroup, he will work alongside Jens Welter, who recently relocated to New York from Europe to drive growth in the US market.
The hiring represents the latest personnel change implemented by Vis Raghavan, Citigroup’s new banking head. In the memo, Raghavan highlighted that "financial sponsors and mid-market clients remain a particular focus for our growth strategy," adding that Friedland’s experience across multiple industry verticals and with private equity clients aligns with these objectives.
A Citigroup spokesperson confirmed the contents of the memo.
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