Viswas Raghavan is expected to join
In his new role as
Raghavan is set to join
“Vis is the right person to take over at this pivotal moment for our banking franchise,” Fraser wrote in the memo to
Babej will stay on to help with the transition and then retire, as previously announced, Fraser said.
Raghavan is
In a note Monday, analyst Mike Mayo of Wells Fargo Securities said that Raghavan’s hiring “reflects additional effort to restructure” at
“To us, he could be attracted to
Raghavan’s departure from
To fill Raghavan’s role, Filippo Gori and Doug Petno will serve as co-heads of investment banking at
Gori, 49, most recently served as the head of
Filling Gori’s post as CEO of Asia Pacific will be Sjoerd Leenart, according to a separate memo from Piepszak, Rohrbaugh and Mary Callahan Erdoes, CEO of asset and wealth management.
Leenart, 55, has been the global head of corporate banking since 2017 and previously served as regional head for Central and Eastern Europe, Middle East and Africa, and also held leadership roles in debt capital markets, sales and derivatives marketing, the memo said.
Petno, 59, has been the CEO of