Citi’s Wall Street Rebound Turns Raghavan Into CEO Contender (1)

When Vis Raghavan heard that Citigroup Inc. Chief Jane Fraser was struggling to find someone to oversee investment banking last year, he called her with an audacious pitch: The London-based banker, whose star was dimming at Jamie Dimon’s JPMorgan Chase & Co., said he could work wonders for Citigroup’s franchise.

Fraser’s decision to hire him after just a few days of talks — including his quick flight to meet her in New York — appears to be paying off.

The hard-charging banker’s arrival last year has energized the division, pushing his team to relentlessly pursue deals while cutting underperformers to ...