Goldman Sachs Loses Top Southeast Asia Banker to Citi

By BLOOMBERG

Goldman Sachs Group Inc.’s head of investment banking in Southeast Asia moved to Citigroup Inc., the second executive to do so in recent years, people familiar with the situation said.

Harry Naysmith will be vice chairman of banking, capital markets and advisory for Southeast Asia at Citi, the people said, asking not to be identified discussing a private matter. Representatives at both banks declined to comment.

Naysmith worked in Southeast Asia for Goldman during a tumultuous time for the bank, which had to pay a record foreign bribery penalty in the U.S. last year for its involvement in the 1MBD investment fund scandal in Malaysia. He follows Udhay Furtado, a 12-year Goldman veteran and former co-head of investment banking for Southeast Asia, who left in September 2018 to join Citi as co-head of equity capital markets at the bank.

Naysmith, who wasn’t immediately reachable, joined Goldman in 2013 and was based in Singapore. Prior to that, he spent five years at ABN Amro Bank NV.