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Citi Australia on look out for new chief

The global investment bank is set to begin its search for a new chief, after its CCO was appointed to head one of its foreign divisions.

Citi has revealed that pending regulatory approval, the chief country officer (CCO) of its Australia and New Zealand division, David Livingstone, has been appointed to lead the group’s Europe, Middle East and Africa (EMEA) division.

The void left by Mr Livingstone will be temporarily filled by Luke Randell, head of markets and securities services for Citi in Australia, while the group begins its search for a permanent replacement.

In a note to Citi employees, the CEO of the group’s Asia Pacific division, Francisco Aristeguieta, thanked Mr Livingstone for his service to Citi Australia and New Zealand since joining in 2016 and noted his experience in the international finance sector.

“He has led our Australia-New Zealand franchise to sustainable growth, intensifying the partnership between our institutional and consumer businesses, driving a number of key initiatives, including our landmark Qantas deal,” he said.

“He also led the acquisition of Coles credit card portfolio, which helped grow our market share in cards to 12 per cent.

“He has balanced that growth by ensuring he has been a driving force in embedding an ethical culture of sound decision-making throughout the business and improved our key relationships with government and regulators.”

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Mr Aristeguieta added: “David leaves Australia-New Zealand in a very strong position as one of our most important markets in Asia Pacific.”

  [Related: Neo-lender expands team]

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