Citigroup Appoints Co-Heads of Asia Equity Capital Markets

Ken Chow and Udhay Furtado have been appointed to the positions.

There have been some changes at Citigroup, with the multinational investment bank announcing that it has appointed Ken Chow and Udhay Furtado to head the bank’s Asian equity capital markets.

According to a report from Reuters, who saw that statement from the financial services company, the appointments will bring the bank’s local structure in line with Citigroup’s global operations.

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The two new co-heads of the Asian equity capital markets were both previously working at Citigroup. Chow was previously the co-head of Greater China equity capital markets. According to his LinkedIn profile, he has been with the American bank for four years, joining in September of 2018.

Before he was working for Citi, Chow was a Managing Director at the Bank of America Merrill Lynch, where he worked for almost eight and a half years from May 2007 until September of 2015. 

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Furtado, on the other hand, rejoined Citigroup more recently, having started in September of last year as a Managing Director working in the equity capital markets. He previously worked at the investment bank earlier in his career. Specifically, from January 2000 until April 2014, he was a Vice President at the firm.

During the gap between his two stints at the company, Furtado was first employed at Deutsche Bank for two years as a Director. He then went on to work for Goldman Sachs for 12 years, where he was the Co-Head of SE Asia Investment Banking.

Citigroup has momentum in Asia

In September of 2018, Citigroup introduced the Banking, Capital Markets and Advisory (BCMA) model, where the bank moved all of its banking and capital markets businesses into one unit. Since then, it has appointed leaders in those divisions in each region.

“We have excellent momentum across our banking franchise in Asia with involvement on several key transactions,” Citigroup’s Asia Pacific BCMA head Jan Metzger said. 

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