Ignacio Gutierrez-Orrantia, the Citigroup’s new regional director, said Reuters that Citigroup is trying to grow its business in Europe despite the political unrest that has investors concerned.

Refinitiv’s EMEA league tables show that the U.S. bank, which completed its largest reorganisation in decades last year, is presently ranked fourth for M&A and sixth for equity capital markets (ECM).

“Whether it takes three, four, or five years, our goal is to be the best. “We’re determined to succeed,” Nacho Gutierrez-Orrantia declared.

He did say that “volatility and lack of visibility due to the upcoming elections in the UK and France are causing doubts among investors” .

Due to the severe worsening of market circumstances following this month’s elections for the European Parliament and the scheduling of a general election in France, premium sports company Golden Goose of Italy decided to postpone its plans for a listing in Milan on Tuesday.

“From a business perspective, this is also an opportunity for us to sit down with our clients and advise them on how to navigate this instability more effectively,” said Gutierrez-Orrantia.

“With all this political uncertainty happening in Europe, opportunities may arise,” he stated.

On Thursday, Gutierrez-Orrantia, the head of the Europe Cluster and Banking for Europe, also took over as CEO of Citibank Europe.

In addition to managing the bank’s interactions with European authorities, he will be in charge of the banking, markets, services, and wealth operations in Europe.

In an attempt to increase future earnings, Citi is increasing its efforts to address regulatory issues in the US while also addressing an uneasy staff following thousands of layoffs globally.

Due to its so-called living will, which outlines how it would be unravelled in the case of bankruptcy, the lender has encountered regulatory difficulties. It also addresses the penalty imposed in 2020 by regulatory bodies.

Twenty-year Citi veteran Gutierrez-Orrantia stated that the bank will prioritise technology, healthcare, and infrastructure transactions in Europe.

(Adapted from USNews.com)