BWI: Citi Appoints New Leadership Team for Asia Pacific FIG

Press release from Business Wire India
Source: Citi
Tuesday, October 20, 2009 05:32 PM IST (12:02 PM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst
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Citi Appoints New Leadership Team for Asia Pacific FIG


Mumbai, Maharashtra, India and Hong Kong S.A.R, Tuesday, October 20, 2009 -- (Business Wire India) -- Citi Global Banking has appointed Jing Zhao and Simon Yoo as co-heads of Citi's Financial Institutions Group (FIG) in Asia Pacific. Both will report to Farhan Faruqui, head of Asia Pacific Global Banking and be based in Hong Kong.

Jing is currently Chairman of China Investment Banking and she will also continue in this role with offices in Beijing and Hong Kong. Simon, head of Financial Entrepreneurs Group in Japan, will relocate to Hong Kong to take up his new position before the end of the year.

Also joining the team is Ashish Bajaj who joins the FIG team based in Hong Kong as Head of Financial Institutions Relationship Management in Asia Pacific, reporting to Jing and Simon.

Citi has over 90 bankers in its FIG Global Banking team across the region, covering investment banking, corporate banking and commercial banking clients.

"Our Financial Institutions Group is one of our most important franchises in the region given the continued capital needs and M&A opportunities for banks in the region. Our leadership team has significant experience in the FIG sector, having worked on numerous capital raising and advisory assignments throughout their careers. We look forward to this team leading the further development of our FIG team across the region as we continue to support our clients with their capital and advisory needs," said Farhan Faruqui, head of Asia Pacific Global Banking.

Jing joined Citi in 2006 from Morgan Stanley to lead the China Investment Banking effort and was instrumental in building the strong team which has led a series of high profile IPOs and advised on major M&A transactions in recent years, including the merger of China Netcom and Unicom and the IPOs of China Coal, Citic Bank, China Railway Construction Company and Metallurgical Corporation of China. During Jing's 15-year banking career, she has been a core member of the teams on several key transactions in the FIG space, including the IPOs of PICC Property and Casualty, Ping An Insurance and China Construction Bank.

Simon joined Citi's FIG team in New York in 1997 and was co-head of FIG Japan from 2005 to 2007, before leading the FEG sector team in Japan. He has been involved in numerous landmark restructurings, global offerings and mergers in the U.S., Japan, Thailand and Malaysia. Under Simon's leadership, the FIG and FEG teams sustained leading market share in advisory and equity transactions in Japan. In 2008, Simon was also named the sole recipient of the Promising Young Banker Award for Japan by the Asian Banker.

Ashish is a 22 year veteran with Citi having worked in New York, London and India, and is currently head of Global Transaction Services, Commercial Bank and Global Subsidiaries Group in India, where he helped develop and grow these businesses significantly. During his Citi career Ashish also helped manage the Emerging Markets Cash and Trade businesses while based in London. Ashish's replacement in India will be announced shortly.

In 2009, Citi has helped Asia Pacific FIG clients raise over US$50bn from debt and equity markets and is the top ranked bank for announced M&A in the Finance and Insurance space in Asia Pacific, according to Dealogic data.

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.


CONTACT DETAILS
Indu Anand, Citi, +91 (124) 418 6766, indu.anand@citi.com
Shreela Roy, IPAN Hill & Knowlton, +91 9820149119, sroy@ipanhillandknowlton.com

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst

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