Citigroup has poached Deutsche Bank's Jingkai Yew for its equity capital markets franchise as the US bank prepares ahead of an expected uptick in equity fundraising activities in Southeast Asia, according to an internal memo seen by FinanceAsia.
Yew, who was most recently a sector coverage banker at Deutsche Bank on Southeast Asian real estate, gaming and lodging, will join Citigroup as a director with a focus on equity capital markets origination and execution in Southeast Asia.
In his new role, Yew will be based in Singapore and report to Ashu Khullar, Citigroup's head of capital markets origination for Asia-Pacific.
Before joining Deutsche Bank, Yew was a member of Macquarie’s ECM team covering Southeast Asia.
The appointment of Yew comes at a time when equity fundraising activities in Southeast Asia are showing signs of acceleration since the beginning of the year, especially across frontier markets.
Citi is in the process of building books for a VND31.8 trillion ($1.39 billion) initial public offering for Vinhomes, the flagship business of local conglomerate Vingroup.
The US bank was also a bookrunner for a $300 million Singapore IPO for Bangladeshi power producer Summit Power International, although the transaction is being held up following lacklustre demand.
Citi also helped Chinese mall developer Sasseur with its $301 million real estate investment trust listing in Singapore in March, which is the only Reit listing in the city so far this year.
