Rajiv Nayar will become Citi's new head of capital markets origination (CMO) in India, the US bank said yesterday in a statement. He fills the gap left by the promotion of Ravi Kapoor to head of global banking in India.
Nayar, who will move to Mumbai within the next couple of months, will lead India's origination and execution team for both debt and equity transactions in India. He will report to Kapoor and also to Kenneth Poon, head of CMO for Asia-Pacific.
Offering both local and international solutions to clients, Citi is one of the leading underwriters of debt and equity transactions in India. Over the past 12 months it has raised about $20 billion for Indian clients from the debt and equity markets, according to data from Dealogic.
"We have a leading franchise and capital markets business in India and are confident that under [Nayar's] leadership our capital markets business in India will grow significantly and achieve new heights," said Kapoor.
Prior to his current role as head of Citi's capital management group in Asia-Pacific, Nayar was a managing director in the leveraged and acquisition finance team within the Asia-Pacific CMO group in Hong Kong. During this period he led several landmark debt deals in the region, including the financing of Tata Steel's acquisition of Corus and the refinancing of the Jaguar Land Rover acquisition facilities for Tata Motors.
As the boss of the capital management group (within global banking), Nayar is responsible for the management and deployment of capital for institutional clients in the region, and also oversees debt transactions for global banking.
He joined Citi in India at the end of 1984 and since then has worked in a wide range of coverage and product roles across the firm, including corporate banking, corporate and project finance and portfolio management. He has been based in India, London and Hong Kong.
"Rajiv's extensive experience of working across many businesses and products globally shall further strengthen our Indian franchise and add value to our clients' needs in India," said Poon.
