Citigroup names Viswas Raghavan as new head of banking

Citigroup has named, Viswas Raghavan, an Indian American executive from JP Morgan, as its new Head of Banking and Executive Vice Chair reporting to CEO Jane Fraser. He is expected to join Citi this summer.

“Vis is a proven leader and his appointment is another example of our ability to attract the best talent to our firm,” she said in a note to colleagues Monday.

As Head of Banking, Raghavan will lead one of Citi’s five core businesses, with responsibility for Investment, Corporate and Commercial Banking. In his role as Executive Vice Chair, he will help shape and drive Citi’s firm-wide strategy and assist me with key strategic initiatives. He will join Citi’s Executive Management Team and serve on the Board of Citi Foundation.

“I couldn’t be more excited to welcome Vis to our firm. He is a strategic leader who brings a strong track record of delivering results across a global banking business,” Fraser wrote.

Raghavan joins from JP Morgan, where he most recently was Head of Global Investment Banking, after previously having served as Co-Head of Global Investment and Corporate Banking since 2020.

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Prior to that, he was appointed Head of EMEA Investment and Corporate Banking and Treasury Services in 2012. In addition to his global Banking responsibilities, he was also CEO of JP Morgan in EMEA since 2017, working with the bank’s senior country officers and business heads to deliver for clients across all lines of business in the region.

He first joined JP Morgan in 2000 and held senior roles in Debt and Equity Capital Markets globally.

Raghavan grew up in India and earned a BSc degree in Physics from The University of Bombay and holds a BSc honours degree in Electronic Engineering and Computer Science from Aston University (Birmingham, UK), from where he also received an honorary doctorate. He is a Chartered Accountant with the Institute of Chartered Accountants in England and Wales.

Raghavan “is the right person to take over at this pivotal moment for our Banking franchise,” Fraser wrote. “Since first announcing the structural changes last year that established our Banking & International organization, we have begun to operate more efficiently and have strong momentum with clients.”

The experience Raghavan brings in banking and as EMEA CEO makes him the perfect partner to lead the Cluster and Banking Heads across Citi’s global network alongside Ernesto Torres Cantú, Head of International, she wrote.

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“He will also work closely with David Livingstone and our Vice Chairs in the Client organization to ensure we are delivering a consistent and disciplined client strategy,” Fraser added.

“I am confident that the momentum we have been generating will accelerate under Vis’ Citileadership and keep us firmly on the path towards delivering on our commitments of expanding wallet share, seamlessly offering the full power of Citi to our global clients, and driving improved returns for the business,” she wrote.