Citigroup hires Bank of America veteran to lead tech services banking

Citigroup has hired Bank of America veteran Rohan Sen to lead coverage of the technology services sector, adding another senior banker as Wall Street firms compete more aggressively for clients tied to AI, cloud and digital infrastructure spending. Sen joins after 11 years at Bank of America, where he was a managing director in the firm’s technology investment banking group.

Sen’s background, as described on his LinkedIn profile, centers on technology and tech-enabled services investment banking, a niche that spans software, IT services, cloud infrastructure and other digital tools. That matters because banks are chasing not just the largest software names, but also the companies that build, maintain and finance the infrastructure behind enterprise technology spending.

The hire fits a broader Citigroup push to deepen its technology franchise. On July 22, the bank hired five U.S. tech investment banking executives from rivals, a sign that the firm has been building out its bench rather than making one isolated addition. Senior lateral hires can quickly bring client relationships, sector knowledge and cross-selling opportunities in lending, advisory work and capital markets.

Technology services companies can be attractive mandates for banks because they sit close to fast-growing parts of the economy, even if they remain exposed to shifts in enterprise budgets and the usual swings in valuation and dealmaking. As companies keep spending on cybersecurity, cloud migration and digital transformation, banks are competing to advise on acquisitions, refinancings and restructurings tied to that spending.

Citi’s Banking & International business says its banking franchise is organized around investment banking, corporate banking and commercial banking across more than 90 markets, a structure that gives a sector specialist more room to move across products and geographies. Citi’s leadership page also lists Tim Ryan as head of technology and business enablement and Michael Naggar as chief information officer and chief digital officer, underscoring how central technology leadership has become inside the firm itself.

For Citi, the hiring spree points to a strategic effort to win more profitable mandates in a sector where clients often need financing and advice at the same time. As AI investment and infrastructure buildouts continue, the banks that can speak fluently to technology executives and support their capital needs are likely to capture the most valuable business.