Citi wins Bangladesh banking licence

Citi has become the first foreign bank to secure a merchant banking licence in Bangladesh, enabling the US dealer to act as an adviser, underwriter and lead manager in the country’s local capital markets.

Silmat Chisti has been appointed head of Citigroup Global Markets Bangladesh, a locally incorporated entity. He started in Citi’s investment banking division in 1998 in New York and last worked in the equity capital markets group in Hong Kong.

Citi has operated in Bangladesh since 1987

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