Religare Capital Markets Ltd. Has hired former Citigroup, Inc (NYSE: C) Managing Director Nalin Nayyar as the company’s new head of investment banking in India.
Mr. Nayyar, age 41, will report to Tarun Kataria, who is CEO of Religare Capital Markets Ltd. Local unit, as well as Sutha Kandiah, the company’s global head of equity capital markets and advisory business in Singapore, according to a statement from Religare send to the press on Tuesday.
The appointment is part of Religare Capital Markets Ltd. CEO Margin Newson’s efforts to build operations by hiring bankers from rival companies joining Religare in October. Previously, he named UBS AG’s Rob Munro as CEO in May. He also hired Rob Flynn, also from UBS earlier in the year.
Citigroup Inc. (Citigroup) is a global diversified financial services holding company. The Company provides consumers, corporations, governments and institutions with a range of financial products and services. As of December 31, 2009, Citigroup had approximately 200 million customer accounts and did business in more than 140 countries. Citigroup operates through two primary business segments: Citicorp, consisting of its Regional Consumer Banking (RCB) businesses and Institutional Clients Group (ICG), and Citi Holdings, consisting of its Brokerage and Asset Management (BAM), Local Consumer Lending (LCL), and Special Asset Pool (SAP). In April 2010, Barclays PLC acquired Italian credit card business of Citibank International Bank plc. In May 2010, the Company announced the creation of a new Collateral Management Services unit within its Securities and Fund Services business.
Shares of Citigroup, Inc (NYSE: C) traded down 0.41% hitting $3.65 during mid-day trading on Tuesday.
