09:39 AM EDT, 08/08/2025 (MT Newswires) -- (Updates with internal memo from Citigroup ( C ) in the first to fifth paragraphs.)

Citigroup ( C ) has appointed Guillermo Baygual as co-head of its mergers and acquisitions unit, the company said in an internal memo sent to MT Newswires on Friday.

Baygual will jointly head the company's global strategic advisory franchise with Drago Rajkovic, Citigroup ( C ) said.

Baygual, who will be based in London, and Rajkovic, who will spend time between New York and San Francisco, will officially join the company next month, the lender said.

Citigroup ( C ) said Kevin Cox will continue to head its M&A franchise on an interim basis before becoming M&A global chair.

Baygual joins from JPMorgan Chase ( JPM ) , where he spent more than 25 years, most recently serving as global co-head of the bank's infrastructure and strategic investors group.

JPMorgan Chase ( JPM ) confirmed Baygual's departure in an email to MT Newswires.

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