Citigroup is accelerating its investment banking growth play — and it’s doing so by recruiting top-tier talent from Wall Street rival JPMorgan.
Two prominent figures, Aloke Gupte and Alex Watkins, have joined Citi’s leadership ranks, underscoring the bank’s intent to rebuild and refocus key divisions as global dealmaking shows signs of resurgence.
Gupte, previously co-head of international equity capital markets at JPMorgan, will now serve as global co-head of Equity Capital Markets (ECM) at Citi, alongside incumbent Doug Adams. Watkins, who held a similar title at JPMorgan, steps in to lead Citi’s technology financing efforts — a space that continues to see fierce competition and innovation-driven capital flows.
This talent acquisition forms part of a broader reshaping effort within Citi’s investment bank. It follows the 2023 appointment of Viswas Raghavan, another high-profile recruit from JPMorgan, who now oversees Citi’s global banking operations.
The move also plays out amid a wider game of musical chairs in global finance. JPMorgan, in turn, has been active on the hiring front — bringing in Anthony Diamandakis from Citi to help lead its strategic investors group, and adding veteran dealmaker Kamal Jabre (formerly of HSBC) as vice chair for M&A across EMEA.
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