Jan 27 (Reuters) – Citigroup on Tuesday announced a series of leadership changes across its corporate and investment banking divisions as CEO Jane Fraser steps up efforts to sharpen the bank’s competitiveness against Wall Street rivals.
Veterans of the industry Jason Rekate and John Chirico will take on the roles of global chairs for corporate and investment banking, respectively, according to a memo seen by Reuters.
Marcelo Marangon and Kaleem Rizvi will serve as co-heads of corporate banking, the memo showed, underscoring a strong hiring spree under Viswas Raghavan — the head of Citi’s banking group who joined the lender from JPMorgan Chase in 2024.
Since Raghavan joined Citi, the lender has hired more than a dozen high-profile bankers from competitors and begun pushing executives to work more closely across business lines to win deals and expand revenue opportunities.
Strengthening the investment banking unit is a central pillar of Jane Fraser’s broader effort to revive the global financial group’s performance.
Marangon, who currently serves as Brazil’s chief country officer, will move to New York to oversee corporate banking in the Americas.
Rizvi will relocate to London from his current role leading JANA corporate banking, and take on day-to-day oversight of corporate banking across the UK, Europe, the Middle East, Africa and Asia.
The bank beat Wall Street estimates for fourth-quarter profit earlier in the month, buoyed by a rebound in dealmaking and stronger demand for services to corporate clients.
Shares of Citigroup gained nearly 66% in 2025, outperforming the broader market and most of its banking peers.
(Reporting by Pritam Biswas in Bengaluru and Tatiana Bautzer in New York; Editing by Alan Barona)
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