Citi lures Goldman SEAsia banker to bolster ECM team

The US bank named Udhay Furtado as a managing director in its Asia ex-Japan equity capital markets team.

Citigroup named Udhay Furtado on Tuesday as a managing director in its Asia ex-Japan equity capital markets team, a person familiar with the matter from Citi told FinanceAsia.

Furtado will report to Ashu Khullar, head of capital markets origination Asia Pacific and relocate to Hong Kong from Singapore.

Furtado was previously with Citi between 1999 and 2004, when he left to join Deutsche Bank in Singapore before moving to Goldman Sachs in Singapore in 2006.

An Oxford graduate, Furtado quickly rose at Goldman Sachs, rising to co-head of Southeast Asia investment banking in September last year.

The hiring of Furtado comes close on the heels of Jingkai Yew joining Citi as a director focusing on Southeast Asia ECM origination, also reporting to Ashu Khullar. Yew is based in Singapore.

Citi is ranked second behind Morgan Stanley in the ECM leagues tables for Asia ex-Japan year-to-date, with $9.33 billion raised this year through 49 deals, including the $1.39 billion Vinhomes initial public offering in May.

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