Wall Street bank Goldman Sachs has hired Keshav Sanghi from rival Citigroup as managing director and head of equities in India, according to an internal memo obtained by Reuters on Tuesday.

Goldman Sachs has been building up its equities business in the fiercely competitive Indian market, and recently hired P.V. Krishna from rival Morgan Stanley to be managing director and head of capital markets in India, IFR reported last month.

Sanghi was previously head of Indian equities at Citigroup, and before that was chief executive officer of Reliance Equities International. He also headed Indian equities at Deutsche Bank (DBKGn.DE) for five years, the memo said.

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