Citi appoints new CMO head for India operations

Citigroup on Thursday said it has appointed Rajiv Nayar as the company’s head of Capital Markets Origination (CMO) for leading a team that helps originate and execute debt and equity transactions for the company’s clients in the country.

In a statement, Citi said that Mr. Nayar, to be based in Mumbai, would report to Ken Poon, head of Asia-Pacific capital market origination, and Ravi Kapoor, head of global banking for India.

“We have a leading franchise and capital market business in India and are confident that under Rajiv’s leadership, our capital market business in India will grow significantly and achieve new heights,” said Mr. Kapoor.

Mr. Nayar, who has been associated with Citi for more than 25 years, worked in a wide range of coverage and product roles within the financial institution, including corporate banking and project finance.

He was previously a managing director with the leveraged and acquisition finance team within Citi’s Asia-Pacific Capital Markets Origination Group in Hong Kong.

During his tenure, Mr. Nayar carried out a number of landmark debt transactions in the region, including the financing of the Corus acquisition by Tata Steel and refinancing of the Jaguar Land Rover acquisition facilities for Tata Motors.

Citi has raised around $ 20 billion for Indian clients from debt and equity markets over the last 12 months, according to data from Dealogic.