(21 May 2019 – Australia) Citi Commercial Bank is expanding in Australia to provide the full suite of banking products and services to growing middle market domestic corporates with operations in both domestic and international markets.
The group's expansion into the segment following the annoucnement of Marc Luet as Citi Australia CEO and Head of Citi’s Australia and New Zealand cluster is set to provide the Bank with the opportunity to work with a new client set complementing the group's existing institutional customer base already serviced by its Corporate and Investment Bank. Trade finance, FX and transaction banking product offerings are likely to include liquidity and cash management, online digital hedging platforms and access to a diverse selection of credit facilities.
Head of Citi Commercial Bank in Australia, Alex Syhanath, believes Citi is well positioned to become a leader in commercial banking within Australia following a comprehensive review of the market that identified significant opportunities. Syhanath sees getting the right people in place as critical to achieving his goals for the Commercial Bank and believes Citi offers significant benefits to new staff joining the group.
“Coming to Citi has given me exposure to a much larger credit platform and capabilities, rounding out my corporate financial experience while gaining access and exposure to a broader set of flow-based transaction banking, and financial markets products and capabilities.”
“The team we have built so far is extremely well-rounded and has extensive experience within banking and financial services. As we continue to expand, we want to augment our existing skills base with talent that will bring diverse perspectives and experience to the conversation and allow us to continually enhance the coverage and services we deliver to our clients.”
“Not only will they get access to world class treasury and cash management platforms, but also exposure to financial markets and strong debt capital market capabilities. There is a strong need and demand for Citi’s global platform and the capabilities we offer to our clients.”