Citi has appointed David Bailey as head of debt capital markets (DCM) Australia and New Zealand.
Bailey (pictured) will be based in Sydney and report to Alex Cartel, head of capital markets and advisory in Australia and regionally to Adrian Khoo, head of Asia North & Australia, Asia South Bonds and Ben Ng, head of Asia North & Australia, Asia South Loans and Syndicate.
Bailey is currently head of Citi’s cross border capital markets in New York where he is responsible for the origination and execution of US$ securities for global borrowers and "a select number" of US domestic clients, a statement from the bank said. This business has held a top three wallet position in bond underwriting for more than a decade under his stewardship.
Bailey has previously worked at Citi in Australia in a number of roles.
Cartel said in a statement, “The Citi Australia and New Zealand Debt Capital Markets team has achieved unprecedented success in 2024. I'm delighted to be welcoming David back to Australia to build on this momentum.”
The Citi DCM business has been in the top three Australia and New Zealand DCM league tables for over 10 years for all international bonds. Some recent deals Citi have done in Australia and New Zealand include the pricing of a $1.25 billion bond for the Commonwealth Bank of Australia, and a 10-year €600 million ($641 million) senior green bond on behalf of Auckland Council.
Bailey's appointment is subject to regulatory approval.
ICiti has also appointed Matthew Hung as head of corporate banking for Hong Kong, effective August 19. Hung is replacing Joy Cheng who was appointed as head of Citi Commercial Bank for Hong Kong in February.
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