Multinational financial services group Citi has made a series of internal changes to its Corporate and Investment Banking units. The changes will see two global heads based in Asia.
In an internal memo sent to finews.asia, the U.S. banking giant says it is keen to utilise their most senior client-facing bankers and has made the following organisational changes, effective February 1.
In the Technology, Media and Telecom (TMT) unit Mark Shafir, who has dual responsibility leading the TMT franchise and co-heading Citi's Global M&A practice, will now dedicate his focus on driving the advisory business as Co-Head of Global M&A.
Global Head in Hong Kong
Shafir will continue to serve as the lead M&A advisor to Citi's Technology and newly created Communications sectors, described below.
Herb Yeh and Jan Metzger will now Co-Head the Global Investment Banking Technology franchise. As part of his leadership and management responsibilities, Yeh will relocate to the San Francisco office in the coming months. He most recently served as North America Investment Banking Technology Head while Metzger, based in Hong Kong, served as the Asia Pacific CIB Head of TMT.
New Communications Group
Colin Banfield also based in Asia serves as Managing Director and Head of M&A.
Media and Telecom will be combined into a single (“Communications Group”), which will be led globally by Gordon Kroft, Dan Richards and Wilhelm Schultz. As a result of his new Communications Group focus, Schultz will become Chairman of Europe, the Middle East and Africa (EMEA) M&A. A new day-to-day leadership for EMEA M&A will be named in due course.
David Head, who has led or co-headed the Financial Institutions Group (FIG) for the past nine years, will become Chairman of FIG. Head will continue to work closely with Peter Babej, who will be responsible for managing the FIG business globally.
Global Asset Management
Brad Coleman, who has led or co-headed Global Asset Managers (GAM) (formerly the Alternative Assets Group), will become Chairman of GAM. His main role will be to focus on adding to his existing senior client relationships, Christian Anderson and Anthony Diamandakis, will Co-Head GAM.
Christina Mohr who has been a Mergers and Acquisitions (M&A) practitioner for over 20 years at Citi, will become Vice Chairman of M&A.
In December 2016 finews.asia reported on the news that Citi had tasked a high-ranking executive Kevin Lam with more effectively fostering business leads between its wealth management arm and its investment bank in Asia.
