Citi confirms Arvind Vashistha to continue as Head of India Equity Capital Markets

Citi emerged as the top underwriter for equity capital markets (ECM) in Asia ex-Japan for the first quarter (Q1) of 2024.

Investment bank Citi announced on April 15 that dealmaker Arvind Vashistha will continue as Head of India Equity Capital Markets, reporting to Udhay Furtado and Ken Chow in Hong Kong, the co-heads of Asia Equity Capital Markets.

The official statement confirms a Moneycontrol story of April 12 which said that Vashistha, who had quit and was headed to rival JP Morgan, had reversed his decision.

"India remains one of our key global markets. Arvind’s ongoing leadership will continue to be crucial to driving our franchise forward," the official announcement said.

Vashistha, a chartered accountant, joined Citi as head of equity capital markets in November 2014. He joined UBS, where he has worked as an executive director, of global capital markets, since 2006.

According to Dealogic, Citi emerged as the top underwriter for equity capital markets (ECM) in Asia ex-Japan for the first quarter (Q1) of 2024.

Two of the firm's key deals over this period include the $ 2.1bn block trade by British American Tobacco (BAT) in ITC Limited and the $1.1bn block trade by Tata Sons in Tata Consultancy Services (TCS), the announcement added.