Only nine months after Tribridge Investment Partners announced it had hired John Liptak to head the launch of its new Tribridge Asian Special Situations Fund, Citi has snatched Liptak to head up Asia-Pacific distressed and special situations. Liptak will be responsible for both Japan and non-Japan Asia and will start his new job at the end of this month.
Liptak will be responsible for trading, market making, structuring, sourcing and distributing by way of the Citi credit salesforce. This is a new role and an expansion of the functions of the Asia-Pacific credit trading team at Citi. Liptak will be based in Hong Kong and will report to Naresh Narayan for the Japan business and David Rosa with regard to Asia ex-Japan.
Liptak joins Citi with 17 years of industry experience under his belt -- 12 of which are in Asian distressed and special situations markets.
"John Liptak's client facing experience in Asia makes him a great addition to the team. Distressed is a key growth area for Citi in Asia," said Rosa.
Currently, Liptak is a partner at Hong Kong alternative investment firm Tribridge Investment Partners, which he joined in June 2009. Prior to that he ran an 11-person special situations and distressed debt team at Bank of America. Liptak was with Bank of America from 2001 to 2009.
He has also worked with ING, UBS and Credit Suisse First Boston in New York.