Citi creates new investment banking group for sponsors
Citigroup is launching a new division to manage relationships with financial sponsors and sovereign wealth funds. The bank hired a former Lazard executive.
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CITIGROUP INC is restructuring its investment banking operations by establishing a new Financial and Strategic Investors group. This strategic move, announced by Vis Raghavan, the bank's head of banking, aims to intensify transaction activity with financial sponsors and key institutional investors. The newly formed division will replace the former Global Asset Management unit and is designed to provide specialized coverage for financial sponsors, sovereign wealth funds, and family offices.
