The investment banking business of Citi has announced two senior appointments for Australia and New Zealand.

Citi Australia and New Zealand has appointed Ben Connolly and Philippe Perzi as co-heads of capital markets and advisory, according to a statement, subject to local regulatory approval. In the Sydney-based role, they will report to Jan Metzger, Citi’s head of investment banking for Asia Pacific and locally to Mark Woodruff, Citi Australia CEO.

Connolly has over 18 years of experience across Australia, Europe and the UK, advising clients on mergers and acquisitions and capital markets transactions. He is currently managing director and head of real estate for Citi in Australia and New Zealand.

Perzi has over 20 years of experience across mergers and acquisitions, equity capital markets as well as leveraged and structured finance solutions. He joins from Goldman Sachs where he was managing director and head of its financial institutions group.

Retirement After 15 Years

In addition, the bank also announced the retirement of Tony Osmond after a «long and distinguished career across the Citi Australia franchise». Osmond joined Citi as head of banking, capital markets and advisory for Australia and New Zealand in 2010. Since 2022, he was the vice chair for Japan, Australia and North Asia.

He will remain with Citi until 2026 to ensure a smooth transition to the new leadership.

«Strong Start»

According to Citi, the bank has had a strong start to the year in its capital markets and advisory business in Australia and New Zealand. It is acting as financial advisor to Charter Hall Group on the takeover of Hotel Property Investments alongside Carlyle on its bid for a majority stake in Waste Services Group. In debt capital markets, it has helped issuers raise $9 billion in offshore markets within the first three months of 2025.

«Australia is a critically important market for the Citi franchise,» Metzger commented. «The appointment of both Ben and Philippe is reflective of our continued investment in, and growth aspirations for our Australian business. Under their leadership, Citi is well positioned to capitalize on the strong momentum we are seeing in our Australian and Asia Pacific franchise.»