Citigroup Appointed New Chemicals Banking Co-Head
The bank established a dedicated chemicals sector team to capture an increase in industry deal activity.
Updated on Sept. 28, 2026 in People
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Citigroup has appointed Chris Power as co-head of its newly created chemicals investment banking team. Power joined the firm from JPMorgan Chase & Co. to lead the division alongside Arkadi Nachimowski.
Why it matters
The move signals a strategic shift as Citigroup looks to capitalize on a revival in deal activity within the chemicals industry. Previously, the bank managed these transactions through its broader natural resources group.
Citigroup transitioned its chemicals coverage from a sub-sector of the natural resources group to a distinct, dedicated sector team. This structure is now led by two co-heads, Arkadi Nachimowski and Chris Power, both of whom joined from JPMorgan Chase & Co.
The players
Chris Power
He is the newly appointed co-head of the chemicals investment banking team at Citigroup.
Arkadi Nachimowski
He serves as co-head of the chemicals investment banking team and previously worked at JPMorgan Chase & Co.
Citigroup
This multinational investment banking institution provides financial services and corporate advisory to global clients.
JPMorgan Chase & Co.
This is a global financial services firm that served as the previous employer for both Power and Nachimowski.
The details
An internal memo confirmed that the bank is pivoting toward a specialized approach to chemicals to better serve market demand. Arkadi Nachimowski and Chris Power will leverage their industry expertise to lead this focused effort across the bank's global operations.
Timeline
September 28, 2026: Citigroup announced the appointment of the new co-head.
Market Landscape
The creation of a specialized chemicals team aligns with a broader industry push to reorganize investment banking divisions into specific sector verticals. This structure positions Citigroup to better compete for specialized mandates against rivals that have already shifted toward targeted industry coverage.
The bank's increased focus on chemicals may lead to more aggressive advisory services and deal-making for corporate clients in the sector. For investors and industry watchers, this change serves as a bellwether for potential consolidation activity in the chemical manufacturing market.
The takeaway
Citigroup's decision highlights the importance of sector-specific expertise in a rebounding M&A environment. This reorganization suggests that the bank is prioritizing high-growth verticals to capture market share from competitors.
Further reading
For more updates on executive moves, visit the People section.
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