Citigroup Inc. has hired Raj Rathi as head of mergers and acquisitions in India, the latest senior investment banker to join the US lender in Asia.
Rathi will also assume coverage responsibility for digital infrastructure, electronic manufacturing services and some business-to-business commerce companies, according to a memo from the lender sent by Citi's head of investment banking in India, Rahul Saraf, and Asia M&A head Colin Banfield.
Rathi will start in June and be based in Mumbai. He was head of strategy and corporate development at Dream Sports and has more than 15 years investment banking experience, according to the memo. Rathi previously worked at JPMorgan Chase & Co. in India, covering technology, consumer internet and financial technology.
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Recent deals in India that Citi has worked on include the sale of cricket franchise Royal Challengers Sports Pvt. to a consortium led by billionaire Kumar Mangalam's Aditya Birla Group, The Times of India Group, David Blitzer's Bolt Ventures and Blackstone Inc. Citi also advised on Haier Smart Home Co.'s 49% stake sale in its India unit to Bharti Enterprises Ltd. and Warburg Pincus.
Citi has been building its Asian business to seize on dealmaking prospects in the region. Last week, the lender brought in Bhavin Shukla as managing director and head of infrastructure investment banking for Japan, Asia North, Australia and South Asia. It also hired Vikram Chavali from Goldman Sachs Group Inc. last year as Asia Pacific head of global asset managers.
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(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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