Citi announced a leadership rejig in its investment bank in India, elevating its senior banker and Managing Director, Rahul Saraf as Head of Investment Banking in the country.
In this new role, Saraf will support the growth of the franchise’s renewed focus on the institutional business, leveraging his deep relationships with large Indian conglomerates like Reliance Industries NSE -0.71 %, Tata Group, JSW, Aditya Birla Group, Adani among others. He will continue to report to Ravi Kapoor, Head of Banking, Capital Markets and Advisory (BCMA), Citi South Asia, the company said in an official statement on Thursday.
With 26 years of experience, 16 of which in Citi, Saraf (46) joined Citi India in June 2005 and has been involved with several headline transactions deals across M&A, Equity and Debt Capital Markets which included the $10 billion acquisition of Cairn by Vedanta, IndiGo IPO, ONGC NSE -0.17 %’s acquisition of HPCL, Saudi PIF’s investment in Jio and is also working on the Aramco Reliance 02C investment.
Prior to this promotion, Saraf was a Managing Director with coverage responsibility for Indian conglomerates and broader industrials and infrastructure segments.
As an MD at Citi, the sectors under Saraf’s watch have included energy, chemicals, metals/mining, power, renewables, mobility and transportation, ports, airports and roads. He is a Chartered Accountant and CFA and an alumnus of Shri Ram College of Commerce, Delhi, his Linkedin profile reveals.