Bank appoints new CEO - 2019

The banking group has announced that Marc Luet has been appointed as CEO of Citi Australia and head of Citi’s Australia and New Zealand cluster, subject to local regulatory approval.

He will now be responsible for Citi’s business in Australia, including developing and implementing the business strategy, fostering successful client relationships at all levels of the organisation, managing risk and controls, and protecting and enhancing Citi’s reputation in Australia.

Mr Lucet – who is currently Citi’s cluster head for Israel, Kazakhstan, Poland, Russia, Turkey and Ukraine – succeeds David Livingstone, who was recently appointed CEO for Citi’s Europe, Middle East & Africa region.

In his new role, the new Australian CEO will report to Tim Monger, interim CEO of Asia Pacific, and will join the Asia-Pacific operating committee.

Speaking of the appointment, Mr Livingstone, former CEO of Citi Australia and now CEO for the Citi’s Europe, Middle East & Africa region, noted Mr Lucet’s strong record in leading complex businesses across multiple segments and geographies.

“Marc’s experience will be invaluable as Citi pursues its growth strategy in Australia and New Zealand. We shall look to Marc to build on the bank’s successful client relationships while ensuring a strong return on capital for all Citi’s businesses in Australia and New Zealand.”

Mr Lucet first joined Citi in 1991 and spent more than 10 years in marketing, risk and operations in Europe and North America before serving as consumer business manager for Hungary and Belgium.

After leaving the banking group to become president for CEMEA at Visa, Mr Lucet re-joined Citi in 2010 as head of Citicorp consumer and commercial banking for EMEA.

He was later appointed CEO of Russia in 2013, before taking on his current cluster responsibilities in 2017. He is also chairman of the board of directors of AO Citibank Russia and Citibank Turkey and is a member of the board of Citi Handlowy in Poland.

[Related: Citi Australia on look out for new chief]