Citi hires Raghavan from JPMorgan
In a significant move, Citigroup has selected Viswas Raghavan, previously with JPMorgan Chase, as its new head of banking, according to an internal memo by CEO Jane Fraser. Raghavan, who recently held the position of JPMorgan’s head of global investment banking, is anticipated to join Citigroup during the summer. The bank’s interim head of banking, Peter Babej, will remain in the transitional role until his retirement later this year.
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Fraser highlighted Raghavan’s proven leadership, stating, “His appointment is another example of our ability to attract the best talent to our firm.” This decision aligns with Citigroup’s ongoing extensive reorganization, involving a significant reduction of 20,000 jobs over the next two years.
Raghavan, having been promoted to head of global investment banking at JPMorgan, brings valuable experience to Citigroup, where he will collaborate with Ernesto Torres Cantú, Citi’s head of international, and David Livingstone, overseeing the newly-established client division.
This strategic addition of Raghavan follows Citigroup’s trend of bringing in top-notch executives, such as Andy Sieg, who joined from Bank of America to lead the wealth division in September. Simultaneously, as Citigroup disclosed Raghavan’s appointment, JPMorgan promoted Doug Petno and Filippo Gori to spearhead global banking.
Who is Viswas Raghavan?
Viswas Raghavan is an accomplished figure in the financial sector, particularly within the banking and investment industry. As of my last knowledge update in January 2022, Raghavan has been associated with major financial institutions, including JPMorgan Chase. He held the position of head of global investment banking at JPMorgan, showcasing his leadership and expertise in managing global financial operations.
Raghavan’s notable background includes serving as co-head of the global investment banking department and leading investment and corporate banking in Europe, the Middle East, and Asia. His reputation as a seasoned dealmaker and leader has been further acknowledged through his recent appointment as the head of banking and executive vice chair at Citigroup.
His move to Citigroup is a significant development in the banking industry, and his role as head of banking suggests a key leadership position within the organization. Please note that for the most current information about Viswas Raghavan, you may want to check the latest sources or news updates, as my information is accurate up to January 2022.
