by NR INDRAN (INT)

Mumbai: In a move highlighting continued investment in its Global Markets business in India, Citibank announced a number of significant hires across Credit Markets Trading, Structuring and Commodities to tap new business opportunities across these segments. According to Pankaj Vaish, Head of Markets for Citi India, these appointments further underline Citi’s commitment to its clients in India.

“We remain committed to our clients in continuing to invest in our Markets franchise. To this end Citi has made a several significant hires strengthening our credit markets trading, structuring and commodities businesses. These hires strengthens Citi’s overall market presence comprising of over 100 highly motivated and talented individuals in India,” said Pankaj Vaish, Managing Director and Head of Markets at Citi India.

“India is a high priority market for the Asia Pacific region and with these new appointments, Citi is confident of continuing to be amongst the leading Markets franchises in India supporting our clients’ needs across the entire spectrum of fixed income, currencies, commodities, credit trading and equities products and services,” added Pankaj.

Some of the key new talent who joins Citi India in the credit markets trading and commodities team are:

Rohit Dusad joins as Director Origination in Credit markets trading. In his new role, Rohit will be responsible for sourcing opportunities in the MME segment working alongside Citi’ Local Commercial Bankers. Prior to joining Citi, he originated structured products from Indian Banks & NBFC’s and established the franchise for delivery of onshore and offshore credit products for Indian Banks and DFI’s at JP Morgan. He has also worked at Nomura, Deutsche Bank, ABN-Amro and ICICI Bank across fixed income and debt capital markets in various capacities and has a combined experience of over 13 years.

Aditya Bagree joins as Director Credit Structuring. He brings with him over 10 years of experience having worked with Nomura as the Head of India Structuring. Prior to this, he has had extensive exposure in Funds Derivatives, Mortgage Swaps and Options Trading with Lehman Brothers, New York. At Citi India, he will spearhead the structuring activity in credit.

Chintan Shah as Vice President Credit Trading brings cross regional experience to the India Trading unit given his exposure to LATAM, US and Emerging Market products. Prior to joining us, Chintan with over 8 years of experience, has worked with the Emerging Market Structured Credit Trading business unit at Merrill Lynch in New York and more recently in the India Credit Trading desk at Morgan Stanley.

Deepak Shaw joins as a credit analyst bringing over 11 years of experience in credit analysis on debt issuers, internal ratings, securitization analysis, amongst others. Prior to joining Citi, Deepak worked with BNP Paribas Mutual Fund, Bharati Axa, and ICICI Bank in varying roles with significant exposure on Fixed Income products.

Dhiraj Singh as the Commodities Specialist joined Citi’s Corporate Sales and Structuring team and is responsible for the development and execution of Citi India’s commodities business. Dhiraj’s appointment reflects Citi’s strategy to enhance the commodity specialist knowledge and its ambition to be the best commodities Bank in Asia Pacific. Prior to joining Citi, Dhiraj spent 18 years working in the markets business at First Rand Bank and has a rich experience in both metals and energy segment. He has also worked in the bullion market.

Today, Citi is one of the largest foreign banks in India employing nearly 8,000 people and is integrally connected to the trade and capital flows in the region touching 7% of trade flows. Citi also plays a leading role in helping multi-nationals expand in India and also helping Indian companies grow overseas. Over the past three years, Citi has helped raise close to $60 billion from the capital markets for its clients in India and advised on nearly $25 billion of India-related M&A. In the consumer business, Citi has 42 full-service Citibank branches in 30 cities, with over 700 ATMs and a market share of over 20% in credit card spends.

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