Citi makes senior Apac DCM hire, rejigs leadership; boosts GAM team

Citi has appointed Deepak Dangayach as managing director and co-head of debt capital markets (DCM) for Japan, Asia North and Australia (JAN) and Asia South. FinanceAsia understands that Dangayach is set to join Citi in Q4 and will be based in the US bank’s Hong Kong office.

Adrian Khoo, who currently heads Citi’s bonds’ DCM teams for the Asia clusters, will expand his remit to become co-head of DCM for JANA and Asia South, alongsode Dangayach.

Khoo and Dangayach will report to Richard Zogheb, Citi’s global head of DCM.

Dangayach has over 20 years of experience in capital markets, having previously held senior roles at Deutsche Bank and UBS. He was most recently the head of sponsor financing for Apac at Deutsche Bank, and prior to that, led the Apac leveraged and DCM team at UBS. Deepak also brings a strong background in private and structured credit which will support Citi’s increased focus on private and structured credit globally.

New York-based Zogheb said in a media release: “Deepak is widely respected for his expertise in originating, structuring, and executing complex debt financing transactions across multiple sectors and geographies. I’m confident his expertise will be a great asset to Citi as we continue to deliver for our clients.”

In another move at the bank, Vikram Chavali is set to join Citi as managing director, head of global asset managers (GAM) for Japan, Asia North and Australia (JANA) and Asia South. GAM is Citi’s coverage group for asset managers including sponsors and pension funds.

Chavali will join Citi from Goldman Sachs, where he was head of Asia ex-Japan sponsors M&A. FA understands that Chavali is expected to join Citi in Q4 2024 and will be based in Hong Kong.

Chavali will report to Ashu Khullar, global head of GAM and Jan Metzger, head of investment banking for JANA and Asia South.

Khullar said: “Vikram will play a key role in supporting our strategic sponsor clients, and his established relationships will be invaluable as we look to grow our sponsor business. Vikram brings 20 years of experience in investment banking coverage and capital markets, with a proven track record of deal origination and execution, leadership, client engagement and strategic growth,.”

“Financial sponsors globally are driving a significant portion of the overall banking wallet and with Citi’s increased global focus on this important asset class, this underlines our ambitions to grow further with clients in Asia,” added Khullar.

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