Indian-origin banker Viswas Raghavan to receive $52 million from Citigroup after leaving JPMorgan amid ‘bullying’ allegations

executive management team and proud of the business he is building here,” the bank said.

The report also claimed that senior executives at JPMorgan had grown concerned about his behaviour, with some employees threatening to quit and others making complaints to top leadership, including CEO Jamie Dimon.

Raghavan was told he had no future at JPMorgan following a management reshuffle. He then secured the Citigroup role within a matter of days.

Citigroup informed shareholders that the $52 million pay package was necessary to “incentivize” him to leave JPMorgan, though it did not disclose that he had already been informed of his likely exit from the firm.

Despite the row, Raghavan has built a strong reputation as a dealmaker over a career spanning more than two decades. During his 23 years at JPMorgan, he rose through the ranks to become one of its most senior investment bankers, playing a key role in expanding its European business and leading major deals.

Since joining Citigroup, he has been credited with strengthening its investment banking division, attracting senior talent and helping deliver record revenues. He is now seen by some within the industry as a potential successor to Citigroup chief executive Jane Fraser.