Now Citi hired JPMorgan's former global co-head of sponsors, private side sales

Citi's enthusiasm for hiring from JPMorgan seemingly continues unabated. Sources at Citi say the bank has recruited Rob Cascarino, a debt capital markets (DCM) banker who was last seen as a managing director (MD) and global co-head of sponsors private side sales at JPMorgan.

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Both Citi and JPMorgan declined to comment on Cascarino's whereabouts. It's thought that he's joining Citi as co-head of debt financing alongside Uday Malhotra.  

The FCA Register indicates that Cascarino left JPMorgan in January 2025. He spent 14 years at JPMorgan after joining from RBC Capital Markets in 2012.

As we've noted many times, Citi has hired many bankers from JPMorgan under Vis Raghavan, the head of its investment bank who worked for JPMorgan before joining last year.

Citi made various cuts to its debt capital markets (DCM) team earlier in August, seemingly to help it afford its new managing director hires. 

Now that Cascarino has been recruited alongside Uday Malhotra, it's not clear what Paul Gibbs, Citi's former head of UK, Europe and MEA debt financing, is doing. Citi declined to comment on Gibbs' whereabouts, too.

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