Citigroup has announced the appointment of Raj Rathi as Head of Mergers and Acquisitions (M&A) in India, with effect from June 2026.
Based in Mumbai, Mr Rathi will lead the bank’s M&A operations in the country, overseeing strategic advisory on complex and high-value deals. In addition to his leadership role, he will take on sector coverage responsibilities spanning digital infrastructure, electronic manufacturing services (EMS), and select business-to-business commerce companies.
The appointment comes as Citi looks to strengthen its position in India’s investment banking sector. Mr Rathi is expected to work closely with teams across investment banking, markets and other product groups to deliver integrated advisory services to clients.
He brings more than 15 years of experience in investment banking and corporate advisory. Mr Rathi joins Citi from Dream Sports, where he served as Head of Strategy and Corporate Development. During his tenure, he led strategic partnerships and oversaw inorganic growth initiatives, deploying around $150m across multiple investments.
Citi said the appointment comes at a significant time for its India investment banking business. The firm has been ranked the top M&A advisor in the country by deal value in both 2024 and 2025, reflecting its continued strength in executing major transactions.
Among its recent mandates, Citi acted as the exclusive financial advisor on the sale of a 100% stake in Royal Challengers Sports Private Limited for United Spirits Limited, as well as on the 49% stake sale in Haier India for Haier Group.
The bank said these transactions underline the depth of its advisory capabilities and its long-standing client relationships in the Indian market.
