Citi hired a co-head of UK & EMEA DCM from JPMorgan last year. Now he's gone
Thirteen months ago, we reported that Citi had hired Rob Cascarino from JPMorgan and made him co-head of debt capital markets for UK and EMEA. Now, it seems that Cascarino has left again.
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The FCA Register says that Cascarino arrived at Citi in London on October 31st 2025. However, the FCA Register also says that Cascarino left Citi's London entities on July 30th 2026.
Where is Cascarino now? Citi declined to comment. Cascarino didn't respond to a request to comment. It's understood that he in fact resigned last week for a new role as a partner at PJT.
Cascarino arrived at Citi after a period of change in the debt capital markets business. He displaced Paul Gibbs, who then left Citi in March 2026. It's also thought that the team was restructured to give origination banks greater dominance over syndicate bankers.
Despite the changes and various senior departures in the past 18 months, Citi's EMEA debt capital markets (DCM) business has done well. It ranked third by revenues with a 6% market share behind BNP Paribas and JPMorgan in the first half according to Dealogic. This is thought to be testimony to the strength of the remaining team and to strong VPs and directors.
Only in financial institutions group (FIG) DCM did Citi rank outside the top 10. FIG DCM bankers like Tommaso Ponsele and Colm Rainy were among those leaving Citi's team. The bank also lost Piers Davison, the co-head of the European FIG group in late 2022. He's now at Alvarez and Marsall.
It's not clear whether anyone will replace Cascarino. Citi still has Uday Malhotra, Cascarino's co-head of EMEA DCM, who joined from BofA in 2022.
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