LONDON, June 20 (Reuters) - Citigroup ( C/PN ) is looking

to boost its business in Europe despite political instability on

the continent spooking investors, the bank's new head of the

region Ignacio Gutierrez-Orrantia said in an interview with

Reuters.

The U.S. bank, which last year undertook its most

significant restructuring in decades, is currently placed fourth

in EMEA league tables for M&A and sixth for equity capital

markets (ECM), according to Refinitiv.

"Our ambition is to be number one, whether it takes us

three, four or five years. We are committed to reaching the

top," Gutierrez-Orrantia, known as Nacho, said.

However, he noted that "volatility and lack of visibility

due to the upcoming elections in the UK and France are causing

doubts among investors".

Italian luxury sports brand Golden Goose on Tuesday,

postponed its plans for a listing in Milan, blaming the

significant deterioration in market conditions following

European parliament elections this month and the calling of a

general election in France.

"From a business perspective, this is also an opportunity

for us to sit down with our clients and advise them on how to

navigate this instability more effectively," Gutierrez-Orrantia

said.

"With all this political uncertainty happening in Europe,

opportunities may arise," he added.

Gutierrez-Orrantia, Europe Cluster and Banking Head for

Europe, also assumed the role of CEO of Citibank Europe on

Thursday.

He will oversee the bank's businesses in Europe - Banking,

Markets, Services and Wealth - and also the relationship with

European regulators.

Citi, dealing with an unsettled workforce after thousands of

layoffs worldwide, is stepping up efforts to fix regulatory

problems in the United States as it seeks to boost future

profits.

The lender has faced regulatory challenges tied to its

so-called living will, which details how it would be unwound in

the event of bankruptcy. It is also addressing fines handed down

by regulators in 2020.

Gutierrez-Orrantia, a 20-year veteran of Citi, said the bank

will particularly focus on tech, healthcare and infrastructure

deals in Europe.