Citi has appointed Kaustubh Kulkarni ( KK ) as co-head of Japan, Asia North and Australia ( JANA ) and Asia South investment banking coverage, serving alongside Jan Metzger, according to an internal communication.

Kulkarni will join the bank in December, subject to necessary approvals. He will be based in Singapore.

Both Kulkarni and Metzger will report to Vis Raghavan, head of banking, and work with the banking executive team and banking operating team.

Kulkarni joins Citi following 28 years with J.P. Morgan, where he most recently served as senior country officer, India, and vice chair of Asia-Pacific.

At J.P. Morgan, he also held a range of other leadership roles, including head of India, head of investment banking, India, and co-head of Southeast Asia investment banking.

Metzger joined Citi in 2015, and has held a range of senior roles over the past decade in Asia-Pacific, including leadership of the bank’s corporate and investment banking franchise.

He assumed responsibility for JANA and Asia South investment banking coverage in November 2023 and has driven an increase in client coverage intensity, which has been instrumental in contributing to Citi’s strong performance, according to the announcement.

In its second-quarter results, Citi reported investment banking revenues of US$981 million, up 15% year-on-year, driven by a 13% increase in investment banking fees, which reflected growth in advisory and equity capital markets.