Shanti Sen at Citi realty unit

Shanti Sen at Citi realty unit

Seattle: Citigroup Inc.’s real estate investment unit named Shanti Sen to the new position of head of merchant banking to help invest the bank’s capital in property companies and assets worldwide.

Sen, 46, was named a managing director. She joins New York-based Citigroup from Government of Singapore Investment Corp. Pte Ltd, where she was a senior vice-president, responsible for leading investments and asset management in the Asia-Pacific region. Singapore Investment manages more than $100 billion (Rs3.95 trillion) of assets.

Wall Street banks are seeking to profit from rising rents and property values in Asia and emerging markets in Latin America and Eastern Europe.

“Asia, in particular the larger economies within that market—Japan, India and China—should provide sustainable investment opportunities," Sen said on Wednesday.

She added the bank doesn’t have any specific geographic targets for allocating capital.