Foreign media: Citigroup plans to expand its investment banking teams in Japan and China, strengthening coverage in key industries by hiring senior bankers to win more cross-border M&A deals.
Kaustubh Kulkarni, head of investment banking in the Asia-Pacific region, said that despite uncertainties brought by the Iran conflict, transaction activity across Asia remains resilient. Japan, South Korea, and Taiwan have been less affected by energy shocks, while IPO and capital market activities in emerging markets such as Indonesia and the Philippines have slowed down. Citigroup will fill talent gaps in sectors like technology, media, and telecommunications in Japan, and is awaiting regulatory approval from Chinese authorities for establishing its securities subsidiary. Recruitment has already begun for investment bankers covering "new era" and "high-growth" enterprises.
Moreover, offshore equity capital markets in Hong Kong raised over HK$140 billion in the first four months of this year, a year-on-year increase of more than 400%, marking the strongest start since 2021. Citigroup is also considering hiring a third senior banker in Australia to complete local team formation.
Original article: toutiao.com/article/1863638106149892/
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