Viswas Raghavan’s $52 Million Hiring by Citigroup

Viswas Raghavan’s $52 million hiring by Citigroup comes amid serious allegations of bullying and inappropriate behavior from his previous role at JPMorgan. He was appointed as head of banking in February 2024, just days after being informed of his exit from JPMorgan.

Raghavan spent nearly 24 years at JPMorgan. During that time, he faced multiple accusations related to his leadership style. Colleagues described him as a “bully” with an explosive temper. He allegedly used harsh language and insults towards coworkers, which prompted internal reviews.

Key facts about Raghavan’s tenure at JPMorgan:

• Accusations included using crude language, such as saying he would “grab them by the b***s.”
• His behavior led to a pay cut due to behavioral concerns.
• Management eventually told him he had no future at the bank following a reshuffle.

Despite these allegations, Citigroup defended its hiring process for Raghavan. The bank stated that the process was thorough and involved participation from senior leadership. They expressed enthusiasm about having him on their executive management team.

The compensation package for Raghavan is notable in the context of investment banking. His hiring raises questions about how firms handle leadership styles and behavioral issues. The scrutiny surrounding his past may impact his future at Citigroup.

Officials have not confirmed whether any further internal reviews will take place regarding Raghavan’s conduct at JPMorgan. Analysts are watching closely to see how this situation unfolds within Citigroup.