Citigroup Appoints New Head of Banking Division, Feige Leaves for UBS

JPMorgan Chase & Co.’s Viswas Raghavan has been appointed as the head of Citigroup’s newly formed banking division last month. This move was announced by Citigroup’s CEO, Jane Fraser, who expressed optimism about the improving sentiment in the market. Despite this, she noted that there is a delay before recent good deals translate into revenue.

Feige’s departure from Citigroup and his subsequent hire at UBS Group AG is another indication of the ongoing changes and movements within the financial industry. With assistance from Crystal Tse, this development highlights the importance of having the right talent to drive growth and performance in a competitive market.

Prior to joining Citigroup in 2022, Feige worked at JPMorgan as the co-head of Asia ex-Japan ECM. His departure and Raghavan’s appointment are part of Citigroup’s strategic moves to capitalize on the rebound in dealmaking activity. However, both banks have declined to comment on this development.