Citi Promotes Internally for Chairman and Head of Banking
(7 April 2022 – Australia) Head of Citi Australia’s banking and capital markets advisory unit for the past decade, Tony Osmond is shifting to chairman with banking unit operations handed to Alex Cartel.
Mr Osmond will undertake client work and staff mentoring while Mr Cartel’s promotion includes administration responsibilities associated with running the investment banking division of a leading Wall Street group. Mr Osmond took over Citi’s banking, capital markets and advisory team for Australia and New Zealand in 2012 after joining the group from Goldman Sachs in 2010. Osmond recruited Cartel from Deutsche Bank in 2020 as head of corporate finance and advisory, placing him on his current trajectory to take over as head of banking while fulfilling his current role as president of Australia’s Takeovers Panel. Cartel’s recent deals include BHP’s A$86 billion unification and dual listing and Santos’s Oil Search acquisition.
“These appointments are reflective of our continuous investment in our institutional business and our clients and will ensure we have the capacity to meet the increasing activity” commented Citi Australia and NZ CEO, Marc Luet.
“As far as activity is concerned, we see it quite sustained in terms of client activity, in terms of capital market flow, in terms of advisory. Obviously there’s a lot more volatility, and certain activities may thrive a little more on that volatility. We see client needs change. There’s a lot more requests for hedging solutions as a result of price movements in global markets. That’s where we can play a role” Mr Luet added.
“We see ourselves as a transition bank, helping our clients on the advisory side, the financing side, of their transition path. We’ve created a global team in our advisory business focused on sustainability and transition, headed by Keith Tuffley, who is an Aussie. And locally, we’ve appointed Ian Campbell as head of sustainability and corporate transitions in Australia, who’ll be part of that global team.”
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