Citi Loses 3 TMT Bankers, Together with Alex Ramirez to Guggenheim

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  • A managing director and two administrators overlaying TMT for Citi have left the financial institution.
  • Alex Ramirez joined Guggenheim, Richard Soto is shifting to Mizuho, and Ray Yousefian left on Tuesday.
  • There’s been a flurry of strikes on Wall Avenue after a bumper bonus season for many funding banks.

Citi simply misplaced three tech, media, and telecommunications bankers this week, in what one insider described as a “loopy Tuesday” for the lender’s TMT arm.

Alexander Ramirez, a managing director in Citi’s TMT group, Richard Soto, a director targeted on TMT in Citi’s equity-capital-markets enterprise, and Raymond Yousefian, a tech and fintech ECM director have all left the financial institution, two individuals conversant in the strikes informed Insider.

Teammates realized of Ramirez’s departure on Tuesday after Guggenheim Securities issued a press launch saying Ramirez as a senior MD in its TMT follow on Monday night. Soto and Yousefian each accomplished their final days with Citi on Tuesday, these individuals stated.

After 18 years at Citi, Ramirez was thought-about one of many financial institution’s senior individuals in TMT, the individuals stated.

Soto, who joined Citi in 2011, will be part of Mizuho’s ECM staff as a MD overlaying TMT purchasers.

Yousefian joined Citi in March 2020 after nearly six years with Morgan Stanley. It is unclear the place Yousefian is headed subsequent.

Spokespersons for Citi and Mizuho declined to remark. A spokesperson for Guggenheim referred Insider to Monday’s press launch.

Guggenheim completed because the Nineteenth-ranked financial institution in ECM offers final 12 months, up from twenty first and twenty fourth in 2020 and 2019, respectively, in accordance with Refinitiv. Mizuho, in the meantime, was twentieth in 2021, down from fifteenth in 2020, however up from its thirty fourth place end in 2019, the info confirmed.

Ramirez’s transfer to Guggenheim comes after the financial institution employed Tyler Dewing from rival boutique agency Harris Williams to develop its tech investment-banking follow final September.

Michal Katz, Mizuho’s head of funding and company banking within the Americas, joined the Japanese lender in November 2019. Earlier than that Katz labored for RBC Capital Markets for nearly seven years. She was the Canadian financial institution’s co-head of world know-how funding banking.

The departures come amid a flurry of strikes on Wall Avenue, as funding bankers search for new alternatives after a bumper bonus season and file deal volumes throughout ECM and mergers and acquisitions in 2021.

Mizuho employed Chris Getz, a managing director and head of power funding banking at JPMorgan, RBC Capital Markets nabbed John Deignan from Mizuho to deal with real-estate ECM, and Financial institution of Montreal’s Kurt Vonderahe was employed by Wells Fargo as a MD in its financial-sponsors group, Bloomberg reported this week.



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