Citigroup has hired a dealmaker to lead its coverage of artificial intelligence companies, joining growing ranks of technology-focused senior bankers at the Wall Street lender.
Sirisha Kadamalakalva has joined Citigroup as global head of artificial intelligence investment banking, according to an internal memo seen by Financial News, returning to dealmaking after a year and a half as chief strategy officer of technology firm DataRobot.
Kadamalakalva spent over 11 years at Bank of America before switching to DataRobot, where she was latterly a managing director within its software banking team and head of its AI coverage. She will be based in San Francisco.
Citigroup has slowed the pace of its investments into senior dealmakers, its chief executive Jane Fraser said during a December conference. However, it has continued to add bankers in the technology sector, which it deems a key area of focus.
READ Citigroup targets Wall Street rivals for top spots in investment banking expansion
The US bank moved its former head of European investment banking, Philip Drury, from London to San Francisco in May last year to head up a new unit focused on the technology and communications sector, one of a series of so-called supergroups focused on sectors which Citi believes will shape dealmaking for years to come.
Drury told FN at the time that the bank would invest “meaningfully” in the unit, which could number hundreds of bankers. Senior tech hires over the past 18 months include former Credit Suisse banker Dhiren Shah, who joined as chairman of global technology mergers and acquisitions and Brian Truesdale, who was hired from JPMorgan as chairman of global technology banking, capital markets and advisory.
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