Who is Guillermo Baygual?

Guillermo Baygual is a former JPMorgan Chase & Co. executive who has been appointed by Citigroup to co-lead its mergers and acquisitions division.

What is Citigroup's strategy with these new hires?

Citigroup is actively recruiting top talent from key industry rivals, such as JPMorgan, to strengthen its investment banking capabilities, particularly in the mergers and acquisitions (M&A) sector.

How will Baygual's role at Citigroup impact the bank's M&A business?

Baygual will work alongside another ex-JPMorgan executive, Drago Rajkovic, to co-lead Citigroup's M&A division, as the bank looks to expand its presence in this area.

Home / Business and Economy / Citigroup Appoints JPMorgan Exec as New Co-Head of M&A

Citigroup Appoints JPMorgan Exec as New Co-Head of M&A

8 Aug

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Summary

Citigroup hires Guillermo Baygual, a former JPMorgan executive, to co-lead its M&A division
Baygual will work alongside another ex-JPMorgan executive, Drago Rajkovic, who joined Citigroup in June
Citigroup continues to strengthen its investment banking team with strategic hires from key rivals

Citigroup Appoints JPMorgan Exec as New Co-Head of M&A

Citigroup has made a strategic move to strengthen its mergers and acquisitions (M&A) division by appointing Guillermo Baygual, a former JPMorgan Chase & Co. executive, as its new co-lead. Baygual, who had a 25-year career at JPMorgan, will work alongside Drago Rajkovic, another ex-JPMorgan executive who joined Citigroup in June.

This latest hire is part of Citigroup's ongoing efforts to bolster its investment banking capabilities by recruiting top talent from key industry rivals. The bank has been actively pursuing experienced professionals, including the recent additions of Ed Sankey from HSBC Holdings and Achintya Mangla, another JPMorgan alumnus.

Baygual and Rajkovic are set to start their new roles at Citigroup in September, with Baygual based in London and Rajkovic dividing his time between New York and San Francisco. Until their arrival, Kevin Cox will remain in charge of Citigroup's M&A business, after which he will take on the position of global chair of M&A.

Citigroup's strategic focus on strengthening its investment banking division is being led by Vis Raghavan, a former JPMorgan executive who joined the bank in 2024. The bank has been involved in several major deals this year, including the acquisition of Walgreens Boots Alliance by Sycamore Partners and the Charter Communications and Cox Communications merger.

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