Sydney – Citi Australia has named Mark England as the new Head of its Securities Services business in Australia and New Zealand, following the retirement of long-serving executive Martin Carpenter.
England is currently based in Hong Kong and is APAC Co-Head of Sales for Citi Securities Services. He will relocate to Australia, where he will assume the role of leading the Securities Services function for Australia and New Zealand while retaining his existing regional responsibilities.
Citi Australia and New Zealand CEO, Marc Luet, said England's industry experience and knowledge of the Citi business will be a great asset as Citi Australia strengthens its leadership position and growth plans in the securities services sector.
"Mark is one of the most senior leaders in the Securities Services business, with 20+ years' experience in different roles across New York, Dublin, London, and Hong Kong. With a significant number of additional opportunities ahead of us in Australia, we are delighted to be able to locate a senior regional role out of Sydney as a demonstration of our ongoing commitment to the market," Mr Luet said.
"We are entering a pivotal time in our business, allowing us to concentrate our resources where we can add the most client value. Securities Services presents a strong opportunity for growth as we enter a new chapter in our business, and we will continue our investment in people, technology, and processes to further cement our leadership position in the local market."
Martin Carpenter has been with Citi Australia for more than 16 years and has led the Securities Services franchise across Australia and New Zealand for 13 years, overseeing a fantastic period of transformation and growth. Most notably, Citi Australia's client transfer agreement with RBC, which was completed in March of this year, welcoming 26 new clients and 140 new staff to the Securities Services team.
"Martin has overseen a tremendous period of growth and development in our business in Australia," Mr Luet said. "From a sub-custody only focused business employing approximately 30 staff at the start of his tenure, Securities Services is now a multi-product franchise, employing upwards of 340 staff onshore and offshore, ranked #2 in the industry, and generating significant revenues.
"The success of this business is a testament to Martin's character and hands-on leadership approach. Martin has played an integral role in Citi's business for almost two decades. We thank him for his dedication and commitment to success and wish him well in the next chapter of his life."
Carpenter will retain his full responsibilities pending regulatory and compliance approvals for England's appointment, which is expected to be finalised within the third quarter.
With approximately $29.9 trillioni of assets under custody and administration and an industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides clients with extensive on-the ground local market expertise, innovative post-trade technologies, customised data solutions and a wide range of custody and fund services that can be tailored to meet clients' needs.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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