HONG KONG, July 3 (Reuters) - Citigroup Inc has hired a senior investment banker from Goldman Sachs Group Inc, Udhay Furtado, in Asia to bolster its equity capital market (ECM) coverage in the region, a Citi spokesman said on Tuesday.
Furtado, a co-head for Southeast Asia investment banking at Goldman, will join Citi as a managing director in the ECM team focusing on Asia, excluding China, and report to Ashu Khullar, head of Asia Pacific capital markets origination, he said.
Furtado, who joined Goldman Sachs more than a decade ago in Hong Kong, was part of the bank’s investment banking division in Singapore before being made a co-head for Southeast Asia last year.
His hiring by Citi comes as the U.S. bank has been looking to beef up its ECM team headcount in Asia. In May, it appointed Jingkai Yew, formerly with Deutsche Bank, as a director focusing on Southeast Asia.
In the first half of this year, Citi was ranked third, after Goldman and Morgan Stanley, in the ECM league table for Asia Pacific, according to Thomson Reuters data. (Reporting by Sumeet Chatterjee; Editing by Gopakumar Warrier)