By Shankar Ramakrishnan

April 12 (Reuters) - Citigroup ( C/PN ) has rehired an

investment banker who had quit to work for JPMorgan Chase ( JPM )

even before he started work there, two sources with

knowledge of the matter said on Friday.

Arvind Vashistha was on gardening leave after leaving his

job at Citi in early February to join JPM as its Southeast Asia

head of equity capital markets (ECM). But over the last week he

decided not to take up the position, the sources said.

The sources said he is rejoining Citi in his old position of

head of ECM for India. He is set to restart in May.

JPM and Citi declined to comment.

The decision to rejoin Citi came after JPM saw the

departures of several senior bankers in recent months, which led

to a reorganization of the leadership in its global banking

division, said the sources.

In late February, Citi hired Viswas Raghavan as head of

banking from JPM, where he had been head of global investment

banking.

And in early April, JPM appointed Kevin Foley as global head

of capital markets, overseeing debt and equity capital markets,

and announced the departure of Achintya Mangla, global head of

ECM. Vashistha in his new role at JPM was set to report to

Mangla.