Citi confirms Vashistha to continue as head of India equity capital markets

Investment banking major Citi announced on Monday that Arvind Vashistha will continue as head of India equity capital markets (ECM). The statement follows reports that the dealmaker had quit to join rival JP Morgan.

“Arvind’s ongoing leadership will continue to be crucial to driving our franchise forward,” Citi said in a release, adding that he will continue to report to Hong Kong-based Udhay Furtado and Ken Chow, the co-heads of the Asia ECM division.

On a year-to-date basis, Citi has overseen ECM deals worth $4 billion, with a 14 per cent market share — ranking number one on the India ECM league table. Some of the key transactions handled by the US-based bank include a $2.1 billion block trade in British American Tobacco (BAT) in ITC Limited and a $1.1 billion block trade by Tata Sons in Tata Consultancy Services (TCS).   BS Reporter