Citi (NYSE:C) hires Vargas from JPMorgan to lead equity capital markets in North America

Citigroup hired Bernal Vargas from JPMorgan Chase (NYSE: 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, 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 (NYSE:C)’s head of banking, Viswas Raghavan, has been announcing high-profile hires as the bank expands its investment banking business and revenue.