Viswas “Vis” Raghavan landed a top job with Citi, one of the Big Four US banks, at a reported $52 million pay package three days after a major career shift from JPMorgan Chase, where he had spent more than two decades, according to a report.
His move to Citi came after he was informed that he would not have a long-term future at JPMorgan, according to Financial Times (FT).
Raghavan joined Citigroup in February 2024 as Head of Banking. During his time at JPMorgan Chase, he faced years of internal complaints related to workplace behaviour and conduct, according to the report.
Raghavan’s conduct at the bank, he said, called JPMorgan employees “a waste of calories,” “ignorant”, and “inadequate”. At one point, JPMorgan cut his pay because of the problems with his behaviour, it added.
To his juniors, according to FT, he allegedly spoke about a woman he once found attractive before adding that “now, she was fat.”
But Citigroup pushed back against the allegations and said “the process for how Vis joined Citi has been mischaracterised. It began in January 2024, lasted more than a month and included internal and external diligence as well as direct participation from Citi’s senior leadership and board of directors.”
Who is Viswas “Vis” Raghavan?
Raghavan is a senior banking executive at Citigroup, where he currently serves as Head of Banking and Executive Vice Chair, as per Citigroup’s official website.
Before moving to Citigroup, he spent more than two decades at JPMorgan Chase in several top roles in global investment banking. He was Head of Global Investment Banking after earlier serving as Co-Head of Global Investment and Corporate Banking from 2020. Alongside these responsibilities, he also led the bank’s Europe, Middle East and Africa operations as Chief Executive Officer from 2017.
His career at JPMorgan began in 2000, and over the years, he worked across debt and equity capital markets at a global level.
Raghavan was raised in India and holds a Bachelor of Science degree in Physics from the University of Bombay. He later completed an honours degree in electronic engineering and computer science from Aston University in Birmingham, which also awarded him an honorary doctorate in 2016. He is also a Chartered Accountant with the Institute of Chartered Accountants in England and Wales.
Despite the scrutiny surrounding him, Raghavan is being seen as a possible contender to eventually succeed Jane Fraser at Citigroup, according to the report. The development has reportedly unsettled some former colleagues and prompted critics to voice their concerns more openly.