Citi enjoying strong momentum across Asean region

Over the past year, bank has added almost 30 bankers in countries like Thailand, Malaysia, Indonesia and Vietnam while also advising on several major deals

Ho Chi Minh City, Vietnam
Ho Chi Minh City, Vietnam

Over the last year, Citi has added close to 30 bankers to its the Asean banking, capital markets and advisory (BCMA) team including three managing directors (MDs).

The hires include nine in Thailand, eight in Malaysia, four in Indonesia and six in Vietnam – some of Citi’s fastest growing countries in the Asia-Pacific, a region that accounts for around a quarter of Citi’s global revenue.

“As Citi increases market share across banking, capital markets and advisory in the Asean region we are investing further in the network. Strong double-digit client led growth across Asean banking is underpinning this investment in talent to support our clients. We will continue to add talent where we can add further quality to an already strong bench,” says David Biller, Citi’s Singapore-based BCMA Head for Asean.

The hires include bankers covering local and MNC clients operating across Asean.

“We are seeing growth across local Asean companies increasingly going global. On the inbound global MNCs are increasingly investing in Asean and the supply chain shift through many Asean countries is leading to increased opportunities for Citi’s Asean banking network,” says Biller. The MDs hired in the last year include Tanapot Parksuwan from HSBC to run Thailand BMCA, Udhay Furtado from Goldman Sachs with a focus on Asean equity origination, and Kelvin Goh from Morgan Stanley to head Asia Pacific Insurance client coverage.

Other external hires include Piyarut Rungunyamanee from Deutsche Bank Bangkok, Siti Sara Mohd Amran from CIMB Malaysia, Adeline Wijayanti from HSBC Indonesia, and Ngoc Ly from HSBC Vietnam.

In July, the bank advised Ascott Reit on its planned US$5.6 billion merger with Ascendas Hospitality Trust. Citi is acting as sole financial advisor to Ascott Reit in connection to the transaction, representing the third REIT merger and fourth trust scheme of arrangement in Singapore to date. Citi has advised on all of these transactions.

During the last year, highlights included advising on Holcim’s sales in Indonesia and Philippines, leading the US$1.3 billion Vinhomes IPO and Malaysia’s first CB for TopGlove. In the debt markets, Citi led new benchmarks for Indonesia and the Philippines.


Social Media Links (This section can be seen in office only):
Twitter :
Linkedin :
Facebook :


17 Jul 2019


Capital Markets

Share this article