Citigroup Strengthens M&A Leadership with Appointment of Drago Rajkovic

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 enhancing its M&A capabilities under the leadership of Viswas "Vis" Raghavan, the bank's head of banking. Since joining Citigroup a year ago, Raghavan has actively recruited top talent to strengthen the bank's investment banking division. Notably, he brought in Achintya Mangla, another former JPMorgan executive, who joined in September as head of financing for the investment bank.

Rajkovic's extensive experience includes involvement in high-profile deals such as Salesforce's $8 billion acquisition of Informatica and Hewlett Packard Enterprise's $14 billion purchase of Juniper Networks. His expertise in the technology sector is expected to bolster Citigroup's efforts to capture a larger share of the $1.5 trillion M&A market.

Citigroup's investment banking division has demonstrated strong performance, with M&A fees rising 84% in the first quarter of the year. The bank advised on significant transactions, including Charter Communications' $21.9 billion merger with Cox Communications and Boeing's $10.5 billion sale of its Jeppesen unit to Thoma Bravo.

Raghavan highlighted the ongoing robust activity in the M&A space, indicating continued momentum in strategic deal-making and acquisition financing. He stated, "M&A continues to be super active—there's a lot of dialog, a lot of engagement."

The hiring of Rajkovic reflects Citigroup's strategic focus on high-value advisory services, particularly in the technology sector. This move is seen as an effort to enhance the bank's market position and capitalize on the growing M&A activity in the tech industry.

In summary, Citigroup's appointment of Drago Rajkovic as co-head of M&A signifies a strategic effort to strengthen its investment banking division, particularly in the technology sector. This move reflects the bank's commitment to enhancing its market position through experienced leadership and capturing a larger share of the M&A market.