SINGAPORE: Citigroup Inc hired Varun Matta from CIMB as head of technology, media and telecommunications investment banking for the Asean region to lead a push in dealmaking.
Matta, who will join the US bank in Singapore, will be a manging director and also cover some sponsor clients for the region, the bank said in an email. The area includes countries such as Indonesia, Malaysia, Vietnam, the Philippines and Singapore.
“Asean is home to some of the fastest growing TMT companies globally and we are further intensifying our focus on this sector with this key hire to support our client led growth across South-East Asia, ” Jan Metzger, head of Asia-Pacific banking, capital markets and advisory, said in an email.
In the past two months, Citigroup advised PT Tokopedia on a US$18bil (RM75.09bil) merger with GoJek in Indonesia to create the country’s largest Internet company.
It also advised Norway’s Telenor ASA on the merger of its Malaysian mobile operations with those of Axiata Group Bhd to create a US$12bil (RM50.06bil) entity, the biggest telecommunications transaction in the country.
Matta will report to Jim Perry and Ho-Yin Lee, co-heads of TMT for Asia Pacific and David Biller, head of Asean banking, capital markets and advisory. — Bloomberg