NEW YORK, July 21 (Reuters) - Citigroup ( C/PN ) hired

Bernal Vargas from JPMorgan Chase ( JPM ) to lead its equity

capital markets division in North America, according to a memo

seen by Reuters on Monday.

Vargas will be based in New York. He was most recently the

head of Americas cash equity sales at JPMorgan ( JPM ), according to the

memo signed by Doug Adams, Citi's global co-head of equity

capital markets. Vargas previously worked at Merrill Lynch and

Goldman Sachs.

He will join later this year, the memo added, without

specifying a date.

Citigroup's ( C/PN ) head of banking, Viswas Raghavan, has been

announcing high-profile hires as the bank expands its investment

banking business and revenue.

Citi hired David Friedland from Goldman Sachs as co-head of

North America investment banking coverage. It also recruited two

executives from JPMorgan ( JPM ) for its financing business. The lender

plans to raise its investment banking headcount in Japan by 10%

to 15% over the next year and make new hires in Australia.