People Moves
Citi Names Asia Pacific Distressed Assets Head
Citi has hired
John Liptak for the newly created role of head of
Asia-Pacific distressed and special situations with effect at the
end of March, the company said in a statement.
Mr Liptak has 17 years of experience in the industry, for 12
of which he specialised in these markets. He is a partner at
Tribridge Investment Partners, a Hong Kong-based alternative
investment firm. Prior to that he worked in special situations
and distressed debt at Bank of America, managing a team of
11.
In his new Hong Kong-based role, he will be responsible for both
Japan and non-Japan Asia, with particular focus on trading,
market making, structuring, sourcing and distributing through the
Citi credit salesforce. He reports to Naresh Narayan for the
Japan operations and to David Rosa for Asia ex-Japan.
The country, along with the US, has been touted to experience the
biggest rise in distressed asset sales in the first quarter of
this year, according to a survey by the
Royal Institution of Chartered Surveyors. Strengthened sector
activity in the country is a priority for Citi as it seeks to
take a larger share of Asia's continued and predicted growth over
the next years.
Citi has the largest foreign bank branch network in Japan with 28
branches and 9 mini branches throughout the country.
