Citigroup Hires Baygual from JPMorgan as Co-Head of M&A Amid Middle East Carried Interest and US IPOs Surge

Citigroup has appointed Baygual from JPMorgan as co-head of its mergers and acquisitions division, marking a notable hire from its rival. This move comes amid a busy period in the financial services sector, with ongoing market discussions covering energy, utilities, auto and transport, basic materials, health care, and technology sectors. The Middle East has recently introduced carried interest provisions, contributing to a dynamic summer for U.S. initial public offerings. Additionally, the road transport sector has shown strong momentum in the stock market.