Vis Raghavan has begun leading Citigroup’s banking division, taking on one of the highest-profile roles in the sector as pressure mounts on the unit to improve returns. 

Raghavan, who headed JPMorgan’s leading investment bank for four years, kicked off his new job as head of banking at Citigroup this week, and the dealmaker told staff in a memo announcing his arrival that he was excited to get the bank to its “maximum potential”.