Citi has appointed former JP Morgan banker Achintya Mangla as head of financing for investment banking, according to a company announcement.
In this newly created role, Mangla is starting on September 4 and will report to Citi’s head of banking Vis Raghavan. Mangla will take on responsibility for global debt capital markets (DCM), equity capital markets (ECM), syndicate and private capital markets, to help deliver advisory and financing strategies for the bank’s public and private clients.
A Citi spokesperson told FinanceAsia that Mangla will be based in both London and New York.
The current head of global DCM Rich Zogheb and Citi's co-heads of global ECM, Douglas Adams and James Fleming, will continue in their respective roles and report to Mangla.
Mangla will also partner closely with other parts of Citi, including markets, wealth and risk, to help drive its private credit strategy and to generate cross-asset class incremental alpha opportunities, according to the announcement.
Mangla joins Citi after more than 22 years at JP Morgan where he most recently served as head of global ECM. Throughout his two decades with JP Morgan, Mangla held a host of senior roles across Asia, EMEA and the US; he almost left JP Morgan in May 2010 to join Bank of America Merrill Lynch but then changed his mind.
Commenting on the appointment, Raghavan, who joined Citi from JP Morgan earlier this year in February, said in a statement: “He is a proven leader with a track record of building and leading high-performing teams that deliver innovative, globally minded solutions to clients.”
Citi's global chief executive officer Jane Fraser has overseen a shake-up at the bank over the last 12 months, including a simplification process and a reduction in the bank's workforce.
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