Citi announces key appointment to support investment banking across Asia-Pacific

Citi announces key appointment to support investment banking across Asia-Pacific

Citi have appointed Kaustubh Kulkarni (KK) as co-head of Japan, Asia North, and Australia (JANA) and Asia South Investment Banking Coverage, serving alongside Jan Metzger. KK will join in December and be based in Singapore.

Kaustubh Kulkarni

KK joins Citi following 28 years with J.P. Morgan, where he most recently served as senior country officer for India and vice chair of Asia-Pacific. He brings a distinguished track record of driving revenue growth and leading award-winning teams.

“KK is an outstanding banker with strong and deep relationships across public and private sector clients and regulators. Throughout his career, KK has been instrumental in driving many transformational transactions across Asia and beyond. I am confident the strong momentum we've been generating globally will continue to accelerate with the addition of KK,” said Vis Raghavan, Citi’s head of banking.

In August alone, Citi led equity offerings including Nissan Motor in Japan, Chinese healthcare companies Hansoh Pharmaceutical and Ascletis Pharma Inc in Hong Kong, JSW Cement and One 97 Communications in India, and CapitaLand in Singapore.

Year to date, Citi has raised close to $200 billion for Asia-Pacific clients from local and global capital markets, according to Dealogic data.

In Citi’s most recent results, with second quarter results announced on July 15, its investment banking showed clear momentum.

Investment banking revenues reached $981 million, up 15 per cent on-year, driven by a 13 per cent increase in investment banking fees, reflecting growth in advisory and equity capital markets (ECMs).

Advisory fees increased 52 per cent, as the business gained share across a multitude of sectors and with financial sponsors. ECM fees were up 25 per cent, driven by strength in convertibles and initial public offerings.

VIR