Buyer Community> Trade Intelligence> Financial Markets> UPDATE 1-Citi hires RBS's Khoo as MD for Asia-Pacific FIG
Source: Reuters

UPDATE 1-Citi hires RBS's Khoo as MD for Asia-Pacific FIG

Published: 20 Apr 2011 18:17:09 PST

* Citi's third key FIG hire in the past month

* Khoo previously worked at RBS, JP Morgan (Adds details, background)

HONG KONG, April 20 - Citigroup Inc hired David Khoo as managing director, Asia-Pacific financial institutions group (FIG), from Royal Bank of Scotland Group Plc , as the U.S. bank further boosts its investment banking capabilities in the region.

With this, Citi has hired three managing directors to its Asia Pacific FIG team over the past month.

Last month, Citi poached Jeff Emmanuel from UBS AG and hired Brian McCullough from PacBridge Capital Partners as it builds its team under FIG co-heads Simon Yoo and Jong Zhao.

Khoo comes to Citi after more than eight years with RBS, where he was most recently managing director and head of Southeast Asia FIG, the statement said. Prior to that, he worked with J.P. Morgan .

Capital raising by Asian banks and insurance companies is a big fee earner for investment banks operating in the region.

After a busy year, financials had a slow start in 2011 and was the fourth most active industry group in overall capital raisings in Asia.

Last year, FIG accounted for more than a third of the total capital raisings in Asia, according to Thomson Reuters data.

Khoo has previously worked on advising AMMB Holdings on the stake sale to Australia and New Zealand Banking Group Ltd , and as a sell-side adviser in Bank Permata's sale to Stanchart and BII's sale to Temasek Holdings.

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