Citigroup plans to leapfrog Wall Street rivals to the top of the dealmaking league tables in Europe, the Middle East and Africa within four years — its new investment banking head, Nacho Gutiérrez-Orrantia, says he took the top job because “I believe we can win”.

Gutiérrez-Orrantia, who replaced Philip Drury as head of Citi’s Emea banking, capital markets and advisory business in May, has put a firm timeframe on its ambitions to displace JPMorgan, which were first outlined to Financial News in 2019.