New Delhi, May 4 -- Citigroup Inc. said Monday it has appointed Raj Rathi as head of mergers and acquisitions (M&A) in India, effective June 2026. He brings over 15 years of experience in investment banking, M&A, and advisory.

Based in Mumbai, Rathi will lead the bank's M&A franchise in the country and oversee sector coverage for digital infrastructure, electronic manufacturing services, and select B2B commerce companies. He will work with teams across investment banking, markets, and other product groups to deliver integrated advisory solutions.

Rathi joins from Dream Sports, the parent of fantasy sports platform Dream11, where he served as head of strategy and corporate development. During his tenure, he led strategic partnerships and investment initiatives, deploying around $150 million across multiple deals.

Prior to that, he spent five years at JP Morgan as executive director in technology investment banking, advising on transactions across the technology, media and telecom sectors. Earlier, he worked in investment banking at Guggenheim Partners and in transaction advisory services at Ernst & Young, focusing on telecom, media, and technology deals. He also held a corporate development role at Sutherland.

Rathi holds an MBA in finance and accounting from the University of Massachusetts Boston and a bachelor's degree in finance and economics from the Rochester Institute of Technology. He is also a CFA charterholder.

Citi has been bolstering its Asia Pacific investment banking team. Last year, it appointed banking veteran Kaustubh Kulkarni as co-head of its investment banking coverage for Japan, Asia North and Australia, and Asia South. Besides expansion in India, the firm is reportedly planning to raise its headcount in Japan by as much as 10% to 15% over the next year and make new hires in Australia.

Rathi's appointment comes as Citi continues to strengthen its investment banking business in India. Its recent transactions include advising on the sale of a 100% stake in Royal Challengers Sports Pvt Ltd for United Spirits Ltd, and a 49% stake sale in Haier India for the Haier Group.

Citi operates in more than 180 countries and provides financial services to corporations, governments, institutions, and individuals.

Published by HT Digital Content Services with permission from VC Circle.