Home Business Banking and Insurance Citigroup Recruits Paramount E...

Citigroup Recruits Paramount Executive to Lead Media Banking Division

Banking and Insurance

Business Honor
21 January, 2026

Veteran Media Strategist Alex Berkett Joins Citi to Navigate Entertainment Landscape.

With its strategic hiring of a leading media executive in Alex Berkett to run Citigroup's media division, Citigroup sends a clear message with an internal memo that it will be increasing its focus on the media and entertainment industry as it continues to grow and expand through continued investment in these sectors. Bringing with him extensive knowledge of both Wall Street and the evolution of the media corporate developers as they have developed their companies over the years through the use of new technologies to build and sustain businesses, Berkett has worked for several high-profile companies, including Bear Stearns, JPMorgan, and Paramount to develop important mergers and acquisitions, including the sale of Simon & Schuster and the merger with Skydance.

The hiring process is part of Citi’s broader recruitment strategy established under the new CEO of Citi Global Investment Banking and Capital Markets, Vis Raghavan, who was hired from JPMorgan in 2024. Competition among Wall Street firms for high-quality candidates who will succeed in an increasingly difficult business environment created by advances in technology and consolidation continues to grow. Berkett co-founded Townsquare Media, which was a public company that purchased distressed local radio stations during the economic downturn. He has most recently served as chief strategy officer and vice president of corporate development at Paramount Skydance and is uniquely qualified to meet the challenges of major media companies facing the current media disruption caused by artificial intelligence and streaming technologies.

Citi has already shown its capabilities in the media space by providing advisory services to major media companies in completing many transactions, including charter communications' merger with Cox Communications and Paramount Skydance's buy-out proposal for Warner Bros. Discovery. Berkett is anticipated to begin his role within the next month, reporting directly to Dan Richards, Global Head, Media & Communications Investment Banking, at Citi and continues to support the bank’s strategic focus on the media and entertainment industry experiencing significant disruption and consolidation.