Citigroup Inc.'s Vis Raghavan is revamping the leadership of the firm's corporate banking operations as the former JPMorgan Chase & Co. executive puts his stamp on the business.
Marcelo Marangon and Kaleem Rizvi will become co-heads of corporate banking, reporting to Raghavan, according to a memo seen by Bloomberg News. Marangon, who had been chief country officer for Brazil, will relocate to New York, while Rizvi will move to London. A Citigroup spokesperson confirmed the contents of the memo.
The bank also named John Chirico global chair of investment banking and Jason Rekate global chair of corporate banking, according to a memo.
Chief Executive Officer Jane Fraser brought on Raghavan to help boost returns at Citigroup's banking unit. The dealmaker spent more than two decades at JPMorgan, where he co-led investment banking. He said in the memo that the group has "incredible" momentum heading into this year.
As part of the changes, Paul Burroughs, who's the head of North American corporate banking, will become a vice chair of corporate banking for North America, according to the memo. Cathy Shepherd and Andrew Padovano will become co-heads of North American corporate banking.
Former Citigroup CEO Sandy Weill and his wife, Joan, pledged $120 million for the veterinary school at the University of California at Davis, awarding one of the largest gifts ever in animal medicine to an institution that once cared for their sick dog.
The commitment will support a major campus expansion, strengthen work in comparative medicine -- the study of health and disease across species -- and bolster research into maladies such as cancer, neurological disorders and cardiovascular conditions, the university said Wednesday. It's renaming its vet school the UC Davis Weill School of Veterinary Medicine.
The Weills emphasized the potential for research at the school to benefit animals and humans alike, while also highlighting their personal connection to the veterinary school. Their bichon frisé, Angel, received care at UC Davis after being diagnosed with lymphoma in 2018. While Angel died, the couple has another dog of the same breed named Sweet Pea.
"Angel's care at UC Davis left a lasting impression on our family," Joan Weill said in a statement. "As Sandy and I became more involved with the school over the years, we have been continually inspired by its leadership, dedication to team science, pursuit of solving complex health challenges and its unwavering commitment to animals and the families who love them."
Some $80 million of the Weills' gift will support construction of a small teaching hospital for animals, which will be part of a $750 million Veterinary Medical Complex expansion at UC Davis.
The overall donation, one of the largest in the university's history, will also help address the shortage of veterinarians by expanding facilities needed to recruit and train more students, the school said.
Sandy Weill, 92, has served on the UC Davis Chancellor's Board of Advisors since 2014 after a long career in finance. In addition, he is chair of the Weill Family Foundation, president of the Carnegie Hall Board of Trustees and chair emeritus of Weill Cornell Medicine.
The Weills have contributed about $1.5 billion to educational, medical and cultural institutions, including a $106 million gift for brain-disease research to UC Berkeley, UC San Francisco and the University of Washington. The UC Davis gift brings their contributions to the UC system to more than $500 million.
