Citi brings on board Brett Paton

UBS veteran Brett Paton has joined Citi as a vice-chairman in the institutional clients group for Australia and New Zealand, the US bank said in a statement yesterday. Paton spent 20 years at UBS in Australia, most recently as chairman for capital markets and vice-chairman for global investment banking, before he retired in 2008. Other positions he held at UBS include head of equity capital markets and institutional sales for Australia.

"[Paton] brings to Citi a wealth of business relationships and market experience, which will add significantly to our business," said Stephen Roberts, country officer for Citi Australia and chief executive officer of the institutional clients group, in a written statement. "Brett's responsibilities will include maintaining management and board level contacts, working closely with the capital markets origination and global banking teams and ensuring Citi brings the best of its global services to meet the need of Australian multinationals and institutional investors."

After he retired from UBS, Paton became chairman of corporate advisory firm Palladio Partners, a part of which has since become Flagstaff Partners. Paton will continue to provide advice as a consultant to Flagstaff on some existing mandates. Paton also recently served as a non-executive director of Australian gambling and entertainment group Tabcorp Holdings.