Citigroup Names Drago Rajkovic as Co-Head of M&A Division

Citigroup has appointed Drago Rajkovic as co-head of its mergers and acquisitions (M&A) division, effective September 2025. Rajkovic, who previously served as global chairman of M&A at JPMorgan Chase, brings over 30 years of advisory experience to his new role. He will co-lead the M&A division alongside Kevin Cox, dividing his time between New York and San Francisco.

Rajkovic's notable transactions include Salesforce's $8 billion acquisition of Informatica and Hewlett Packard Enterprise's $14 billion purchase of Juniper Networks. His extensive experience in high-profile deals is expected to bolster Citigroup's M&A capabilities.

This appointment is part of Citigroup's broader strategy to enhance its investment banking division under the leadership of Viswas "Vis" Raghavan, who joined the firm in 2024 as head of banking and executive vice chair. Raghavan, formerly head of global investment banking at JPMorgan Chase, has been instrumental in recruiting top talent to Citigroup. Since his arrival, he has brought in several senior executives, including Achintya Mangla, who joined as head of financing for the investment bank.

Citigroup's investment banking division has demonstrated strong performance, with M&A fees surging 84% in the first quarter of the year. The bank has advised on significant 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.

Raghavan highlighted the robust activity in the M&A space, stating, "M&A continues to be super active – there's a lot of dialog, a lot of engagement." He also noted that the debt market's performance will be closely tied to how the M&A market evolves, particularly through acquisition financing.

The appointment of Rajkovic and other senior executives signifies Citigroup's commitment to strengthening its position in the competitive investment banking landscape. By attracting seasoned professionals with proven track records, the bank aims to enhance its ability to secure high-profile deals and expand its market share.

As Citigroup continues to implement its strategic initiatives, the addition of experienced leaders like Rajkovic is expected to contribute significantly to the bank's growth and success in the M&A sector.