Citi said on Monday that it has hired Arvind Vashistha as head of its equity capital markets division in India from UBS.
Based in Mumbai, Vashistha is responsible for the origination and execution of equity deals and reports to Ravi Kapoor, head of corporate and investment banking for Citi in India, as well as Kenneth Poon, head of Asia pacific capital market origination, based in Hong Kong.
Vashistha joins Citi after Bhavna Thakur left earlier this year to join corporate advisory Uwant.
Prior to joining Citi, Vashistha was an executive director in the global capital markets division at UBS in India, a position he has held since 2006.
In this role he originated and executed transactions of worth over $25 billion in more than 60 equity transactions.
He is a chartered accountant and holds a bachelor of commerce degree from Sydenham College of Commerce and Economics, Mumbai.
As of September, Citi was second in the Dealogic league table for ECM for the year. Equity issuance was down 2% year-on-year at $8.3 billion - the lowest year-to-date level since 2012.
Citi has worked on such deals in India as Citi's sale of its stake in HDFC, Carlyle’s exit from HDFC Bank, Cairn Plc's stake in Cairn India, Apax's stake in Apollo Hospitals and the government stake in Axis Bank.