Citigroup, Inc (NYSE: C) has hired Tony Osmond away from Goldman Sachs Group Inc. (NYSE: GS) to serve as the company’s new head of Australia and New Zealand investment banking business as part of an effort to boost its fees from arranging deals.
Osmond, who will be based in Melbourne, will take on a newly created position and Australian global banking chief Chris Knoblanche, said Citigroup spokeswoman Judy Hitchen in a statement. Osmond, former head of Goldman Sachs Group Inc. (NYSE: GS)’s M&A business, follows a decision to bring on senior bankers in its institutional clients and capital management divisions.
“We are not looking to build size, but rather appoint individual bankers who bring a new dimension to the business,” Knoblanche said in an e-mailed statement to the press. “As a region, we continue to benefit from ties to growth in emerging markets and a sound local business and financial sector.”
Citigroup, Inc (NYSE: C) stock closed at $4.04 on Friday, passing the critical resistance point of $4.00 for the stock, trading up 1.76% for the day.
