By Lauren Thomas
Citigroup has hired former Paramount executive and longtime media banker Alex Berkett to run its media division, according to a memo delivered internally Tuesday viewed by The Wall Street Journal.
Citi has been bulking up its banker ranks under new banking head Vis Raghavan, who joined from JPMorgan in 2024. Other Wall Street firms are making similar pushes to hire top talent to win bigger deal mandates.
Berkett is set to join the investment bank later this month and report to Dan Richards, Citi's global head of media and communications investment banking, the memo said.
Berkett started his career on Wall Street, holding various roles at Bear Stearns and then JPMorgan. He later co-founded an investment firm focused on buying up distressed local radio stations during the financial crisis. That company, called Townsquare Media, went public in 2014.
Berkett then joined MTV parent company Viacom -- what's now known as Paramount Skydance -- to lead strategy and corporate development. He oversaw Paramount's sale of Simon & Schuster and was involved in its recent merger with David Ellison's Skydance.
Berkett hasn't been involved in Paramount's pursuit of Warner Bros. Discovery and left the company at the end of last year.
The media industry has been ripe for dealmaking as advancements like AI and streaming force traditional players to rethink their businesses or consolidate. Citi last year advised Charter Communications on its merger with Cox Communications. It has also been advising Paramount Skydance on its hostile tender offer for Warner.
Write to Lauren Thomas at lauren.thomas@wsj.com
(END) Dow Jones Newswires
January 20, 2026 09:10 ET (14:10 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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