Citigroup Appoints Drago Rajkovic as Co-Head of M&A to Strengthen Investment Banking 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 the 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, which has experienced substantial growth. In the first quarter of 2025, the bank reported an 84% increase in M&A fees, driven by its involvement in major transactions such as Charter Communications' $21.9 billion merger with Cox Communications and Boeing's $10.5 billion sale of its Jeppesen flight navigation unit to Thoma Bravo.

Rajkovic's extensive background in M&A advisory includes significant deals like Salesforce's $8 billion acquisition of Informatica and Hewlett Packard Enterprise's $14 billion purchase of Juniper Networks. His expertise in technology and corporate M&A aligns with Citigroup's strategic focus on high-value advisory services.

Viswas "Vis" Raghavan, Citigroup's head of banking and a former JPMorgan executive, has been instrumental in this recruitment. Since joining Citigroup a year ago, Raghavan has made several senior hires, including Achintya Mangla as head of financing for the investment bank. These appointments are part of a broader strategy to enhance Citigroup's position in the competitive M&A landscape.

The hiring of Rajkovic is expected to bolster Citigroup's capabilities in the M&A sector, particularly in technology and cross-border transactions. As the bank continues to expand its investment banking division, this appointment reflects its commitment to capturing a larger share of the $1.5 trillion M&A market.

Citigroup's recent performance indicates a positive trajectory in its investment banking endeavors. The bank's focus on cross-border deals and its substantial underwriting capacity position it to capitalize on rising global deal flows. With the addition of seasoned professionals like Rajkovic, Citigroup aims to further solidify its standing among Wall Street's leading investment banks.

In summary, Citigroup's appointment of Drago Rajkovic as co-head of M&A signifies a strategic move to enhance its investment banking division. Leveraging Rajkovic's extensive experience and the bank's recent growth in M&A activities, Citigroup is poised to strengthen its position in the competitive financial sector.