Viswas (“Vis”) Raghavan will join Citi as Head of Banking and Executive Vice Chair of Citi, reporting to Citi Chief Executive Officer Jane Frazer, according to a Note to Colleagues posted on the Citi website.

Fraser stated the following in a letter posted on the Citi website:

Vis is a proven leader and his appointment is another example of our ability to attract the best talent to our firm. As Head of Banking, Vis will lead one of our five core businesses, with responsibility for Investment, Corporate and Commercial Banking. In his role as Executive Vice Chair, Vis will help shape and drive our 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. Vis joins from J.P. 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. 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.

Vis 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.

Vis is the right person to take over at this pivotal moment for our Banking franchise. 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 Vis brings in banking and as EMEA CEO makes him the perfect partner to lead the Cluster and Banking Heads across our global network alongside Ernesto Torres Cantú, Head of International. 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.

I am confident that the momentum we have been generating will accelerate under Vis’ 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.

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 of 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 & International leadership team.

Please join me in congratulating Vis and welcoming him to the leadership of our firm.