US buyout firm Kohlberg Kravis Roberts’ hire of Citigroup veteran Sanjay Nayar to launch the firm’s Indian operation takes the number of senior bankers moving to private equity firms so far this year to more than 40.

Nayar, most recently the chief executive of the bank in India and South Asia, is to become chief executive of KKR India early next year and will be based in the firm's soon to be launched Mumbai office. He was also a member of Citigroup Asia's executive operating committee and senior leadership committee.