UBS Hires JPMorgan’s Viswas Raghavan as Citigroup Shuffles Executives in Banking Division Amid Dealmaking Rebound

Feige, Co-Head of Technology ECM at Citigroup North America, Departs

Last month, Citigroup appointed JPMorgan’s Viswas Raghavan to lead its newly formed banking division. This decision came as dealmaking activity started to pick up, and the bank’s CEO, Jane Fraser, expressed optimism about the improving sentiment in the market. Despite this, there is still a delay before those good deals translate into revenue. The hiring of Raghavan and the recent departure of Gregor Feige are part of Citigroup’s strategic moves to capitalize on the rebound in dealmaking activity.

Feige, who was previously co-head of technology and communications equity capital markets at Citigroup Inc., has left the bank to join UBS Group AG. Sources close to the situation confirmed this move. Feige’s co-head Josh Li will now be the sole head of TMT ECM at Citigroup, replacing him. Prior to joining Citigroup in 2022, Feige worked at JPMorgan Chase & Co., as co-head of Asia ex-Japan ECM. Both Citigroup and UBS have declined to comment on this development.

The addition of Feige to UBS and the internal restructuring at Citigroup reflect the competitive nature of the industry and the importance of having the right talent to drive growth and performance. These changes also highlight ongoing shifts within the financial industry as companies adapt to market conditions.

In conclusion, this news underscores how companies continue to make strategic moves amidst changing market conditions. It also highlights how important it is for companies to have talented individuals who can capitalize on opportunities and drive growth in today’s competitive financial landscape.

With assistance from Crystal Tse, this development brings attention to ongoing changes and movements within the financial industry as companies adapt to market conditions. The addition of Feige to UBS and internal restructuring at Citigroup are just two examples of how companies continue to make strategic moves in order to stay ahead in today’s competitive environment.

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