Citigroup has bolstered its Asia-Pacific investment banking operations by hiring two seasoned executives from Goldman Sachs and Deutsche Bank.
Vikram Chavali, formerly with Goldman Sachs, joins as head of Asia-Pacific asset management, while Deepak Dangayach, previously at Deutsche Bank, will co-lead debt capital markets. Both will be based in Singapore, signaling Citi’s intention to rebuild its presence in mergers and acquisitions, structured financing, and IPO markets.
The moves come as competition in Asia intensifies, with rivals such as Morgan Stanley and UBS expanding in Indonesia and India. Analysts expect increased rivalry in debt markets and sustainable financing, particularly as sovereign wealth funds and family offices diversify across the region.
