Asia's best investment bank 2020: Citi

Quantity was never in doubt with Citi – every year, its capital markets team churn out the deals. When it adds quality to the mix, and an ability to innovate, it’s unbeatable.

Citi’s strength, from retail banking to wealth management, is undeniable. But a key factor working in its favour is the institutionalization of Asian firms. 

More than ever, the region’s big multinationals are run by boards rather than single promoters, and this works to the benefit of a universal lender such as Citi, which likes to find good young firms, bank them as soon as possible and let their fortunes develop.

Under the leadership of its head of Asia Pacific banking, capital markets and advisory, Jan Metzger, Citi had a blockbuster year across the board. 

In equity capital markets it mixed volume with innovation, winning mandates on Alibaba’s $11.2 billion secondary share sale and Hansoh Pharmaceutical’s $1 billion initial public offering, both listed in Hong Kong, and on Lendlease Reit’s S$770 million ($553 million) IPO in Singapore. 

Citi drew on its ability to act as a bridge between China and the US capital markets, acting as joint bookrunner on insurance platform Huize’s $55 million IPO, and as sole active bookrunner on audio entertainment firm Lizhi’s $45 million IPO.