Image Credit: Photo by Expect Best
New York, NY—In a strategic move, Citigroup has appointed Achintya Mangla as the head of financing for investment banking. This newly created role underscores the bank's aggressive expansion plans under Viswas Raghavan's leadership.
Key Facts:
- New Role: Achintya Mangla named head of financing for investment banking at Citi.
- Responsibilities: Overseeing global debt capital markets, equity capital markets, and private capital markets.
- Mangla transitions from a 22-year career at JPMorgan, where he was the global head of equity capital markets.
Image Credit: Achintya Mangla Linked In
Effective immediately, Mangla will take on a broad scope of responsibilities at Citi, including managing global debt capital markets (DCM), equity capital markets (ECM), syndicate, and private capital markets.
This role, specifically created for Mangla, highlights his strong track record and deep connections in the finance industry. His appointment is seen as a strategic move by Citi’s head of banking, Vis Raghavan, who has a history of working closely with Mangla during their time together at JPMorgan.
Raghavan, who has been at Citi for just a few months, is expected to bring in more talent from JPMorgan as he solidifies his influence at the bank. Mangla’s role, broader in scope than his previous positions, is a testament to his capabilities and the trust Raghavan places in him.
As head of financing for investment banking, Mangla will not only manage existing teams but also drive new strategies, particularly in private credit, potentially reshaping Citi's market position.
The reaction within Citi has been mixed, especially among existing DCM bankers who feel overshadowed by this new leadership. However, Raghavan’s confidence in Mangla's ability to lead and innovate suggests that Citi is gearing up for significant growth and transformation in its investment banking division.
This appointment is more than just a career move for Mangla; it signals Citi's commitment to strengthening its investment banking capabilities and pushing the boundaries of what the bank can achieve on a global scale.