Drago Rajkovic Joins Citigroup as Co-Head of M&A Division, Bolstering Leadership

Citigroup has appointed Drago Rajkovic as co-head of its mergers and acquisitions (M&A) division, marking a significant addition to its investment banking leadership. Rajkovic, who brings over 30 years of advisory experience, previously served as global chairman of M&A at JPMorgan Chase. He is set to join Citigroup in September, working alongside Kevin Cox, and will divide his time between New York and San Francisco.

This strategic hire underscores Citigroup's commitment to strengthening its investment banking division amid a competitive landscape. Under the leadership of Viswas "Vis" Raghavan, who joined as head of banking in June 2024, the bank has made several key appointments, contributing to a significant 84% increase in M&A fees in the first quarter of 2025.

Rajkovic's extensive background includes leading technology M&A at Barclays Capital, where he advised major clients such as Nokia, Cisco Systems, IBM, Hewlett-Packard, SAP, Symantec, Motorola Solutions, and Qualcomm. Prior to Barclays, he held positions at Morgan Stanley and Merrill Lynch. At JPMorgan, Rajkovic was involved in significant deals, including Salesforce's $8 billion acquisition of Informatica and Hewlett Packard Enterprise's $14 billion acquisition of Juniper Networks.

Following the departure of Tyler Dickson, former global head of investment banking, to Blackstone in July 2024, Raghavan has been instrumental in reshaping the division. The recruitment of Achintya Mangla from JPMorgan as head of financing in September 2024 is among the notable additions aimed at bolstering the bank's capabilities. The bank's advisory roles in major transactions, such as Charter Communications' $21.9 billion merger with Cox Communications and Boeing's $10.5 billion sale of its Jeppesen unit to Thoma Bravo, have contributed to the surge in M&A fees.

The investment banking sector has seen significant talent movements, with firms vying for top professionals to enhance their M&A divisions. By attracting seasoned bankers like Rajkovic, Citigroup aims to solidify its position in the M&A advisory space, particularly in the technology sector.

Rajkovic's appointment is expected to further strengthen Citigroup's M&A capabilities, enabling the bank to secure more high-profile deals and compete effectively with industry rivals.

Citigroup's strategic hiring of Drago Rajkovic reflects its dedication to enhancing its investment banking division. As the bank continues to attract top talent and secure significant deals, it positions itself as a formidable player in the competitive M&A landscape.