Citigroup appoints Bhavin Shukla to lead Asia infrastructure banking

Citigroup announced that Bhavin Shukla will join as managing director and head of infrastructure investment banking for Japan, Asia North, Australia and South Asia, a move aimed at strengthening the bank’s infrastructure franchise in the region. The hire follows a memo seen by Bloomberg News and was confirmed by a Citi spokesperson [2].

Shukla arrives from JPMorgan Chase, where he led Asia infrastructure investors coverage ex‑Australia and headed India infrastructure investment banking. At Citi he will report to Todd Guenther, global head of infrastructure investment banking, and work closely with regional heads of the financial and strategic investors group, natural resources and real estate teams. The appointment comes as Citi continues to reshape its Asia leadership, having added Vikram Chavali from Goldman Sachs as Asia Pacific head of global asset managers last year and Anders Svensson as head of natural resources for Australia and New Zealand [2].

The recruitment reflects Citi’s broader push to capture growing infrastructure financing demand across Asia‑Pacific, a market where sovereign and private capital are increasingly seeking stable, long‑term assets. By tapping Shukla’s experience in cross‑border advisory and financing, Citi hopes to accelerate origination of large‑scale projects, from transport corridors to renewable energy, and compete more aggressively with rivals that have already bolstered their teams.

Whether Shukla’s move will translate into a measurable increase in deal flow remains to be seen, but the hire signals Citi’s intent to deepen its footprint in a region where infrastructure spending is projected to outpace global averages in the coming years. The bank’s next steps in leveraging his expertise will be closely watched by investors and competitors alike.