Citi reshapes EMEA Debt Capital Markets team with JPMorgan hire

Citigroup has reshuffled its UK, Europe, Middle East & Africa Debt Capital Markets team, hiring Rob Cascarino from JPMorgan. Cascarino will co-head DCM with Uday Malhotra, reporting to Richard Zogheb. Paul Gibbs, former head of EMEA DCM, will oversee global infrastructure and private finance businesses. The changes aim to boost Citi's investment banking fee wallet share.

Citigroup Inc. has made significant changes to its UK, Europe, Middle East & Africa (EMEA) Debt Capital Markets (DCM) team, with the hiring of Rob Cascarino from JPMorgan Chase & Co. [1] Cascarino will be based in London and co-head DCM for the UK and EMEA alongside Uday Malhotra, previously the head of the region’s Loans and Leveraged Finance teams. Both will report to head of DCM Richard Zogheb. This move is part of a broader strategy to enhance Citi's investment banking fee wallet share.

Cascarino, who led a global team focused on fund- and asset-level financings and risk management solutions at JPMorgan, brings valuable experience to Citi. He also served as Chief Operating Officer for EMEA leveraged finance. Paul Gibbs, Citi’s former head of EMEA DCM, will oversee the bank’s global infrastructure, transportation, and private finance businesses. Business heads David Dubin, Thomas Bliemel, and Miguel Picache will report directly to Gibbs.

This reshuffling is part of a wave of bankers joining Citigroup from rival firms since Vis Raghavan’s appointment as Head of Banking in 2024. The changes aim to bolster Citi's competitive edge in the investment banking sector.

References:
[1] https://www.bloomberg.com/news/articles/2025-08-26/citi-shuffles-emea-debt-capital-markets-team-with-jpmorgan-hire