Citi's Borch to run industrial banking in Hong Kong

HONG KONG Wed Jan 21, 2009 1:39pm GMT

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HONG KONG (Reuters) - Citigroup (C.N) is moving Michael Borch to Hong Kong to run its Asian industrials investment banking team, according to a memo seen by Reuters on Wednesday.

Borch will be responsible for covering clients in the transportation, infrastructure, autos and conglomerate sectors, the memo said.

Borch joined Citi in 2005 as head of European transportation banking, based in London. Prior to Citi he headed up JPMorgan's (JPM.N) Industrials group in Asia. Borch has been in the banking business for more than 20 years, the memo said.

Among Citi's largest industrial-sector Asian deals in the last year was the February initial public offering of China Railway Construction Corp., which raised $5.4 billion (3.9 billion pounds).

(Reporting by Michael Flaherty, Editing by Jacqueline Wong)

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