Saturday, 20 April 2024

Citi appoints new banking head and executive vice chair

5 min read

Citi has appointed Viswas "Vis" Raghavan as head of banking and executive vice chair, responsible for investment, corporate, and commercial banking.

In his role as executive vice chair, Raghavan will help shape and drive the firm-wide strategy and assist in key strategic initiatives. He will join Citi’s executive management team and serve on the board of Citi Foundation.

He is a strategic leader who brings a strong track record of delivering results across a global banking business. Raghavan joins from J.P. Morgan, where he most recently was head of global investment banking, after previously serving as co-head of global investment and corporate banking since 2020. 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 J.P. 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 J.P. 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 the banking franchise. Since first announcing the structural changes last year that established the banking and international organisation, Citi has begun to operate more efficiently and has 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 the global network alongside Ernesto Torres Cantú, head of international. He will also work closely with David Livingstone and the vice chairs in the client organisation to ensure the delivery of a consistent and disciplined client strategy.

Jane Fraser, CEO, Citi, said: "I am confident that the momentum we have been generating will accelerate under Raghavan’s leadership 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.

Fraser said: "We expect Vis to join Citi this summer. Peter Babej, chair and interim head of banking, has agreed to assist with the transition before retiring from Citi as previously announced. I’d like to express my sincere appreciation to Peter for his excellent leadership in banking since September. The strong franchise that Vis will take over upon his arrival is a credit to Peter as well as Ernesto and the entire banking and international leadership team."

Re-disseminated by The Asian Banker

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