Citigroup, Inc (NYSE: C) South Asia head of markets V. Srikanth, will move to Reliance Industries Ltd as the company’s new deputy chief financial officer, according to a report from Bloomberg BusinessWeek citing anonymous sources.
Srikanth, age 44, will be leaving Citigroup, Inc (NYSE: C) after working at the New York-based bank for more than 20 years.
Reliance, the largest company in India in terms of market value, recently purchased shale gas assets in the U.S. for $1.7 billion and an internet services company for $1 billion last month. The company plans on making use of its balance sheet to fund new ventures, including expanding its chemical and polyester units.
Srikanth, who managed fixed income, currencies, commodities and equities trading at Citigroup, Inc (NYSE: C), will be replaced by Pankaj Vaish, managing director and head of equities at Nomura Financial Advisory & Securities (India) Pvt. For the company’s Indian operations. Vaish had been hired by Lehman Brothers, whose European and Asian operations were acquired by Nomura in 2008, in April 2007 from Citigroup, Inc (NYSE: C), where he had previously been a managing director responsible for proprietary trading of global equity markets.
