Citi Promotes Technology Bankers

Citigroup reportedly picked Ben Druskin as global co-head of technology, media and telecommunications banking.

He replaces Christopher Varelas, who is leaving Citi to join Bigwood Capital, a new venture capital and PE firm founded by former Flextronics Chief Executive Michael Marks.

Druskin will also continue in his previous role as head of East Coast technology investment banking, comprising both merger advisory and capital raising. His appointement was reported by The Wall Street Journal's DealJournal blog, which says he played a major role in expanding Citigroup's advisory effort among information technology services clients. Druskin's father, Robert Druskin, is a former chief operating officer of Citigroup.

Meanwhile, Citi picked Ivan Brockman and Stu Goldstein as its first official West Coast technology banking co-heads. The West Coast advisory group includes 45 individuals, according to DealJournal. And on the East Coast, Mark Barber, a managing director within the group, "will take a more active role among East Coast technology companies as Druskin moves up," the story says.