MOVES-Citi brings in Musk-Twitter adviser Ric Spencer to bolster tech banking
Oct 2 (Reuters) - Citigroup C.N on Thursday said Ric Spencer, a Bank of America veteran who advised Elon Musk on the $44 billion Twitter deal, has joined its technology investment banking division as vice chair.
Major banks on Wall Street have hired dozens of senior executives in recent months, as improved economic sentiment has spurred mergers and IPOs after a lull earlier in the year due to concerns over the effect of U.S. tariffs.
Spencer has more than 30 years' experience in the technology sector and was most recently Bank of America BAC.N's global co-head of technology investment banking, Citi said.
His track record includes advising Tesla TSLA.O CEO Elon Musk's acquisition of Twitter, Amazon's AMZN.O $8.5 billion MGM purchase, and working on IPOs for Uber, Facebook, JD.com, Twitter and LinkedIn.
Spencer joined Citi's San Francisco office on October 1.
The announcement follows the appointment of another banking mainstay, Pankaj Goel from JPMorgan, to co-lead Citi's tech investment banking segment in July.
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