(Reuters) – Citigroup Inc on Monday named Tony Osmond as chair of its Banking, Capital Markets and Advisory (BCMA) unit in Australia and New Zealand, and Alex Cartel to be the unit’s head, as the U.S. bank focuses on strengthening its institutional business.
The appointments also come as Citi looks to execute a global overhaul https://www.reuters.com/business/finance/citigroup-profit-triples-385-bln-reserve-release-2021-04-15 and exit some overseas businesses.
Osmond has led the BCMA business since 2012 and helmed teams that advised on multi-billion dollar deals, including PE firm Blackstone’s buyout of Crown Resorts and Woolworths’ demerger of Endeavour Group.
Cartel, a Deutsche Bank veteran who joined Citi in 2020, had advised iron ore behemoth BHP on the unification of dual listing, and Santos’ merger with Oil Search.
“These appointments are reflective of our continuous investment in our institutional business… and will ensure we have the capacity to meet the increasing activity,” said Marc Luet, chief executive officer of Citi Australia and New Zealand.
(Reporting by Navya Mittal; editing by Uttaresh.V)