by Tatiana Bautzer and Nupur Anand
NEW YORK (Reuters) – Citigroup has named Viswas Raghavan, previously head of investment banking at JPMorgan Chase, as chief banking officer.
Viswas Raghavan is expected to join Citigroup in the summer, Chief Executive Jane Fraser said in an internal memo seen by Reuters.
The departure of Viswas Raghavan forced JPMorgan to reshuffle its management. The bank announced the appointment of Doug Petno and Filippo Gori as co-heads of its global banking business, according to a memo seen by Reuters on Monday.
Viswas Raghavan is a “proven leader and his appointment is another example of our ability to attract the best talent to our business,” wrote Citi chief executive Jane Fraser.
The American bank is currently engaged in its biggest restructuring in decades and recently announced that it would reduce its workforce by 20,000 people over the next two years. Jane Fraser has brought in new executives to help her, including Andy Sieg, who left Bank of America to head the wealth management division in September.
Viswas Raghavan was recently promoted to head JPMorgan’s global investment bank, having served as co-head since 2020. He previously led the investment banking and corporate division in Europe, the Middle East and Asia.
(Report by Tatiana Bautzer and Nupur Anand, by Nathan Vifflin, edited by Blandine Hénault)
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