Eugene Qian joins Citigroup from Deutsche Bank

Qian becomes a managing director in the China investment banking team.
Eugene Qian has joined CitigroupÆs China investment banking team as a managing director after four years with Deutsche Bank, as the US investment bank continues to beef up its China coverage.

At Deutsche, Qian was a managing director, leading the bankÆs natural resources investment banking team for Asia. He was also a member of DeutscheÆs Asia-Pacific global banking executive committee. Before joining Deutsche Bank he worked at UBS and NM Rothschild for 10 years focusing on M&A as well as power, energy and infrastructure.

In his new role, Qian will report directly to CitigroupÆs head of China investment banking, Jing Zhao.

ôEugene is a great addition to our China investment banking team. He has excellent client relationships around the region and has been involved on several landmark and groundbreaking transactions from China in recent years. We look forward to Eugene playing a leading role in growing and further developing our investment banking business in China,ö says Mark Renton, CitigroupÆs head of Asia-Pacific investment banking.

Citigroup has made a few key hires over the past year to rebuild its China investment banking team and strengthen its position in China. They include Jing Zhao who joined from Morgan Stanley in March 2006 as head of China investment banking, and Sheng Wu and Yehong Ji, also former Morgan Stanley bankers who joined the team as director and vice president respectively.

Less than a year after Zhao moved to Citigroup, the bank named veteran banker Wendong Zhang as managing director of the team. Zhang previously worked at UBS where he was managing director and head of China investment banking.

In December last year, CitigroupÆs China team was a bookrunner on the listing of China Coal. It is also mandated as a joint bookrunner on the upcoming IPO for China Citic Bank, which is expected to raise $2 billion to $3 billion and market rumours suggest the team will be handling the China Railway Construction IPO, which could raise up to $2 billion. In the merger and acquisition space, the team was also involved in the first Sino-India joint venture, which saw IndiaÆs Oil and Natural Gas Corporation (ONGC) and ChinaÆs China National Petroleum Corp (CNPC) team up to buy PetroCanadaÆs assets in Syria early last year.

Qian graduated from Fudan University in China and holds Master and Doctorate degrees in politics from Oxford University.
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