Citi gains renowned investment banker
(30 April 2010 – Australia) A 20 year UBS veteran investment banker Brett Paton, who left the institution to become a director of the boutique corporate advisory group Palladio Partners, has joined Citi in a move that will cause further turbulence for the firm.
Mr Paton left UBS to become a director of the advisory firm 18 months ago with bankers Tony O’Sullivan and Tony Burgess. His departure from Palladio Partners has prompted a split in the firm.
The spilt is also reportedly due to differences between Mr O’Sullivan and Mr Burgess. The Melbourne office will be headed up by Mr Burgess and known as Flagstaff Partners and the Sydney office will remain with Mr O’Sullivan at the reigns.
Citi Australian chief executive Stephen Roberts told the Australian that the hire was a significant one for the franchise in Australia and that having someone like Brett Paton joining the bank was a real achievement.
Mr Robert’s said that Mr Paton ‘has 20 years experience as the father of capital markets in Australia’.
Mr Roberts added that this was important as Citi is rebuilding both in Australia and globally.
The spilt is also reportedly due to differences between Mr O’Sullivan and Mr Burgess. The Melbourne office will be headed up by Mr Burgess and known as Flagstaff Partners and the Sydney office will remain with Mr O’Sullivan at the reigns.
Citi Australian chief executive Stephen Roberts told the Australian that the hire was a significant one for the franchise in Australia and that having someone like Brett Paton joining the bank was a real achievement.
Mr Robert’s said that Mr Paton ‘has 20 years experience as the father of capital markets in Australia’.
Mr Roberts added that this was important as Citi is rebuilding both in Australia and globally.
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