Citi names new executive to bolster investment banking operations in Asia-Pacific region
In a significant move, Citi has announced the addition of Kaustubh Kulkarni to its ranks. Kulkarni, a seasoned banking professional with a distinguished track record, joins Citi after spending 28 years with J.P. Morgan.
Kulkarni will be taking on the roles of senior country officer for India and vice chair of Asia-Pacific, positions that are expected to further bolster Citi's presence in these regions.
In its most recent results, announced on July 15, Citi's investment banking showed clear momentum. Year to date, the bank has raised close to $200 billion for Asia-Pacific clients from local and global capital markets.
The bank's global momentum is set to continue, according to Vis Raghavan, head of banking at Citi, who expressed confidence in Kulkarni's ability to drive revenue growth and lead award-winning teams.
In August, Citi led equity offerings for a number of high-profile companies. These included Nissan Motor in Japan, Hansoh Pharmaceutical and Ascletis Pharma Inc in Hong Kong, JSW Cement and One 97 Communications in India, and CapitaLand in Singapore.
The benefits for India and Vietnam are attributed to similarities in their industrial structures. Both countries are predicted to benefit from supply chain shifts, according to the Citi Global Perspectives and Solutions (GPS) report. The report suggests that Vietnam could benefit significantly from these shifts, and Citi held a Vietnam Day for its Hong Kong clients, one of its fastest growing trade corridors, on December 11.
Kulkarni's expertise is expected to be particularly valuable in these regions. In recent months, he supported companies such as JPMorgan Chase, Goldman Sachs, and Morgan Stanley through corporate bundlings at Citi.
Citi Vietnam was honoured in the category of local Best Commercial Bank at the Asset Triple A Sustainable Finance Awards 2025, further underscoring the bank's commitment to these regions.
India is also predicted to benefit from supply chain shifts, according to the Citi GPS report. This prediction is based on the country's strong manufacturing sector and its growing role as a global supplier.
In conclusion, Citi's strategic moves, led by the appointment of Kaustubh Kulkarni, are set to further strengthen the bank's position in Asia-Pacific and beyond. The bank's focus on key growth areas, such as Vietnam and India, and its commitment to sustainable finance, position it well for the future.
