After a career (some would say a lifetime) at Citibank, Avinder Bindra has left the group. His decision left many in the loan markets shocked, especially as he was one of the Asian debt markets' more familiar figures.
"There arent many people with Avis experience," said one rival banker, speaking from London. "Its a real loss for Citibank."
A long time resident of Hong Kong, the Indian-born Citibanker first ran debt capital markets and later the syndicated loans business. This has left many wondering what the dynamic Bindra will do next.
In conversations with FinanceAsia it appears he is intent on taking some time off when he finally leaves in September and then looking at opportunities in the internet. Our impression is he will look at a debt-related internet site. He told us he was interested in the area of "internet-based debt markets".
The debt markets are an area that undoubtably offers exciting opportunities from an internet perspective. In Bindras case his contacts and experience make his chances look highly compelling.
Bindra began his career in origination, covering the region for bonds, swaps and loans. In 1992 he was made responsible for Asian equity and debt markets until Citibank decided to exit equities in 1996. He then helped start off the regional derivatives business and in 1997 was given the additional responsibility of covering Japan and Australia for the loan business.
During his tenure he successfully built Citis position as the premier loan syndication house in Asia and Japan - a business which he headed.
He is also chairman of the Asia Pacific Loan Market Association.