Citigroup Assembles Banking Team Focused on AI Infrastructure

Citigroup Inc. has formed a group focused on the artificial intelligence infrastructure boom comprised of leaders from its investment banking and corporate banking teams.

The AI Infrastructure Banking team will include investment bankers Ric Spencer, vice chair of technology, and Ashish Agrawal, the co-head of real estate, according to a memo reviewed by Bloomberg News. Alex Watkins, who runs technology financing, head of technology corporate banking Doug Baird and digital infrastructure M&A banker Ben Mortimer will also be part of the effort, according to the memo. A Citigroup spokeswoman confirmed the contents of the memo.