Barclays technology banker joins Citigroup By Reuters

By Milana Vinn

NEW YORK (Reuters) -Ed Wehle, a senior Barclays (LON:) Plc technology banker, has resigned to join U.S. rival Citigroup Inc (NYSE:) in New York, according to an internal memo seen by Reuters, adding to an exodus of top investment bankers from the London-based bank.

An investment banking veteran of nearly three decades, Wehle will join Citigroup as its global head of technology services, Mark Keene, Citigroup’s global head of technology investment banking, wrote in the memo to employees on Tuesday.

“Technology services complements Citi’s unparalleled global client position, and Ed will work closely with partners in Asia, EMEA and Latin America,” said Philip Drury, global head of technology & communications banking, capital markets & advisory at Citi.

Barclays declined to comment.

The move marks a return to Citigroup for Wehle, where he spent most of his career. He was previously head of global technology services banking at Barclays, which he had joined in 2018 from Deutsche Bank AG (NYSE:). He joined Salomon Brothers in 1994, which subsequently became part of Citigroup.

Reuters reported on Monday that at least seven top Barclays technology, media and telecommunications (TMT) bankers have resigned to join UBS Group AG (SIX:) in the U.S. in the last few days. They followed a trio of Barclays U.S. bankers who decamped for UBS in April.