Citi's new head of banking Raghavan begins as CEO hails intensity
NEW YORK - Viswas Raghavan joined Citigroup as its new head of banking this week in New York, the lender said on Tuesday, after it hired the former head of investment banking from JPMorgan this year.
In a Linkedin post on Tuesday, Fraser welcomed the executive to the bank, adding a photo of both at Citi's headquarters in New York."His decision to join Citi reflects our ability to attract the best talent to our firm", she said in the post. Citi's investment banking revenue in the first quarter was $903 million, half of the $2 billion JPMorgan reaped in the same period.
Citigroup has been the fifth or sixth largest global bank in investment banking revenue over the last five years, according to Dealogic rankings. Its share in global revenue has been 4.8% this year so far, up from 4.1% in 2023. The other large U.S. rivals have investment banking market share above 6%.
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