The Wall Street Journal reports RBC Capital Markets has hired veteran tech analyst Mark Mahaney months after his dismissal from Citigroup Inc.
According to the WSJ, Mahaney, whom Citi fired for allegedly violating disclosure rules, joins RBC as a managing director to head the bank’s internet-sector coverage and will be based in San Francisco, Calif. The WSJ adds Mahaney will report to Marc Harris, RBC Capital Markets’ co-head of global research.
As the WSJ reports, Mahaney worked for seven years as one of Citi’s most high-profile analysts before he allegedly let a magazine reporter in on “unpublished revenue estimates for Google’s YouTube business without proper clearance and tried to cover it up.”
In October, Massachusetts’ securities regulator fined Citi $2 million for “research analysts’ improper disclosures of material nonpublic information, including the Facebook IPO.”