Another Controversy in JPMorgan Bank, Viswas Raghavan removed following complaints from Staff?
JPMorgan Bank is again in news after the sexual abuse incident related to top executive – Lorna Hajdini.
This time, another top executive of JPMorgan Bank – Viswas Raghavan is in news. He was asked by the bank to exit following several complaints from employees.
The employees said that he was bullying and harassing them.
Viswas Raghavan is the head of banking and executive vice chair at Citi. He oversees the firm’s corporate, commercial and investment banking activities, and partners with Citi’s international franchises.
At JPMorgan, he served as the co-head of global investment and corporate banking. He was also the CEO of JPMorgan in Europe, the Middle East and Africa.
He was born and brought up in India. He has a Bachelor of Science degree in Physics from the University of Bombay. He also holds a Bachelor of Science honours degree in Electronic Engineering.
He has a degree in Computer Science from Aston University in Birmingham, UK. Later, he also received an honorary doctorate from the institution. Additionally, he is a Chartered Accountant with the Institute of Chartered Accountants in England and Wales.
A Financial Times investigation alleged that he was let go by JPMorgan Chase due to years of complaints about bullying and inappropriate behaviour in the workplace.
Raghavan was hired by Citigroup in February 2024 as its head of banking, just days after JPMorgan Chase asked him to exit.
Citigroup CEO Jane Fraser offered him a pay package worth $52 million (approximately ₹490 crore).
However, the FT report, based on conversations with more than 15 people familiar with him and the circumstances of his recruitment, paints a different picture.
Colleagues alleged he berated staff as “a waste of calories,” “ignorant” and “inadequate,” and was prone to explosive outbursts in the office.
Another report by the Financial Times claimed that he allegedly called his juniors “a waste of calories”. He also labelled the employees as “ignorant” and “inadequate.”
Reportedly, in one incident, he made inappropriate remarks to a group of junior bankers. On their first day, he allegedly told a story about a woman. He allegedly said he once found her attractive but then added, “Now, she was fat.”
The comments drew complaints and were later denied when HR became involved.
Senior bankers had grown increasingly alarmed over his management style, with some threatening to quit and others lodging complaints that escalated to top executives, including CEO Jamie Dimon.
Over the course of his tenure at JPMorgan, he had been the subject of two internal reviews due to his leadership style.
