By: Tunji Okunlola
Citigroup has appointed Chuka Umunna, the former British politician and JPMorgan Chase banker, as a managing director in its UK investment banking division, the latest senior hire as Wall Street firms position themselves for a rebound in dealmaking activity.
A Citi spokesperson confirmed the appointment, with an internal memo indicating Umunna will join the bank in late summer, based in London. He joins from JPMorgan Chase, where he served as managing director and global head of corporate governance and sustainable solutions, while also leading the bank’s UK Security & Resiliency Initiative. Before that, he held senior roles at communications firm Edelman.
Umunna represented Streatham as a Member of Parliament from 2010 to 2019, serving as shadow business secretary under Ed Miliband. He was elected as Labour before later affiliating with Change UK and the Liberal Democrats.
The hire reflects Citi’s push to rebuild its UK advisory franchise amid growing optimism around mergers and acquisitions. The bank has recently brought on Joe Seifert as vice chair of UK investment banking, Stuart Ord as head of UK M&A, and James Potts to lead EMEA activism defence.
Citi is not alone in its ambitions. Goldman Sachs, Morgan Stanley, and JPMorgan Chase have all moved to strengthen their advisory teams across Europe and Britain as the industry anticipates a recovery in deal volumes.
Tags: #CitiGroup #JP Morgan Chase #Goldman Sachs #Morgan Stanley