Citi lures Wortendyke from UBS to head industrials team

Citi has appointed Jason Wortendyke as co-head of diversified industrials global banking for Asia-Pacific. Wortendyke will co-head the team focusing on the bank’s investment banking and corporate banking clients in the Asia-Pacific diversified industrials sector. 

Wortendyke joins Citi from UBS in Asia where he was head of industrials investment banking for Asia-Pacific. He will be based in Hong Kong and will report to Michael Borch, head of industrials global banking for Asia-Pacific.

“Jason brings a wealth of experience in leading key transactions and has excellent client relationships across the diversified industrials space,” said Borch. “This sector is seeing increased activity in the M&A and capital markets and our priority is to ensure we are in the middle of these key transactions.”

Citi is clearly building its industrials team, focusing on equity deals such as Glencore’s £6.19 billion ($10 billion) IPO, for which Citi was a joint global coordinator along with Credit Suisse and Morgan Stanley, as well as leading M&A transactions such as Mongolian Mining Corp’s purchase of a coking project owned by Hong Kong’s Kerry Group. For example, in the past month, Citi moved Abhay Pande to Singapore from Citi in New York to head up Southeast Asia industrials global banking.