Citi relocates David Biller to AsiaÆs industrial team

In a sign of the times that many of the industrial deals are taking place in Asia, Citi is relocating David Biller, a managing director in the European Industrials team, to Asia to lead the coverage of Asian diversified Industrials, a sector that includes some of the world's largest automotive, power equipment, building materials and capital equipment manufacturers.

This is a new position, and is part of Citi's effort to grow its team. Insiders say there will be more hires to come in this department at Citi.

Biller has been with the firm for nearly 10 years and has covered diversified industrials for his entire career. According to an internal memo about the move that FinanceAsia has seen, "Biller brings a global network of diversified industrial clients and has an extensive track record advising a broad spectrum of large multinational clients such as Renault, Goodrich, Smiths, EADS and Finmeccanica on cross-border M&A and capital raisings". 

Biller will relocate this month and take up his new position on September 1. He will report to Michael Borch, head of industrials Asia-Pacific, based in Hong Kong.

Biller is joining a team that has a strong track record in diversified industrials in Asia-Pacific, including recent work for Tata Motors that included leading a loan and local bond financing for close to $2 billion to refinance the Tata Motors acquisition of Land Rover and Jaguar. Citi also was the advisor to Korea's Doosan on its $5 billion acquisition of Bobcat and other lines from Ingersoll-Rand.

Other recent hires at Citi include the announcement earlier this month that Jason Johnson moved from Credit Suisse to head Citi's natural resources global banking coverage in Asia. In early May, Citi appointed former Credit Suisse Group veteran Philip Lewis as head of financial institutions for Australia and New Zealand.