Citi India Appoints Nikhil Nagle as Head of Equities
26 Feb 2009
Citi has appointed Nikhil Nagle as the head of its India equities operations covering both sales and trading business.
An experienced markets professional with a strong background in cash equities and derivatives, Nagle returns to Mumbai from Hong Kong where he was leading Citi's South Asian trading desk and delivered very strong revenue growth over the years and across market cycles.
Nagle will report in the country to South Asian head of markets V Srikanth, and regionally to Asia Pacific equity head Justin Kennedy.
Nagle, an electrical engineer from VJTI, Mumbai and an MBA from the Jamnalal Bajaj Institute of Management Studies, has 14 years of industry experience and has been with Citi since 2002.
His appointment assumes significance given the tough times that the banking giant is going through as a fallout of the global meltdown and the recession in US.
Incidentally, a day after the American banking giant received a multi-billion dollar rescue package from the US government, Nagle's predecessor Brian Brown had resigned from the company.
Just days before Brown's resignation in November 2008, Sanjay Nayar, CEO for Citi's South Asian operations including India, had put in his papers to join private equity firm KKR.