Bank of America’s co-head of private capital markets in Europe is leaving the US bank to join boutique PJT Partners.
Aga Masud, who was promoted to head of private capital markets for Europe the Middle East and Africa last year, is set to join former Morgan Stanley dealmaker Paul Taubman’s boutique, according to two people with knowledge of the move.
Masud’s departure from Bank of America comes just two months after the US bank poached Rahul Bhandari from JPMorgan to co-head the unit. Bhandari will now become sole head of the division, a person with knowledge of the changes said.
Masud took over from Raj Batra in March last year after he departed to launch technology-enabled alcoholic drinks company, Diistil. She previously worked with ECM clients in Germany, Austria and Switzerland. Masud was promoted to managing director this year.
Spokespeople for both Bank of America and PJT Partners declined to comment.
Private capital markets, where banks advise on fundraising efforts of companies wanting not yet ready to go public, has become an increasingly booming market in Europe, with large Wall Street banks including Goldman Sachs, JPMorgan and Citigroup building out new teams in recent years. The trend of working with high-growth companies, particularly in the tech sector, as they develop to become unicorns and eventually tap public markets remains relatively nascent in Europe.
However, a number of banks continue to hire in this area.
Perella Weinberg Partners hired Laura Klaassen from Barclays for a fresh push into private markets in Europe that included hiring senior dealmakers to work with technology and fintech companies.
JPMorgan named Nicolas Skaff, its head of emerging markets equity capital markets, as head of Emea private capital markets in March.
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