Hong Kong/Sydney: Citigroup Inc has hired Jeff Emmanuel from UBS AG as managing director of its Asia-Pacific financial institutions group (FIG) continuing with a string of hires to lift its advisory and trading business in Australia.
Emmanuel comes to Citi after nine years at UBS where he was most recently a part of the FIG group in Hong Kong and before that was the head of the equities business in Australia.
Citi has poached some key members from rivals including Tony Osmond in mid 2010 from Goldman Sachs to head their investment banking team.
Last year, it also hired Karen Phin from the Australian Securities and Investment Commission to head up its capital management advisory business and Brett Paton from Palladio Partners as vice chairman of its institutional clients group.
Citi has slipped in tables over the years and did not figure in the top ten in Australia equity capital markets and M&A league tables in the first quarter of 2011, according to Thomson Reuters data.
Separately, UBS in Singapore has hired a JPMorgan banker who was part of the team that advised ING on the sale of its private bank in Asia, which was bought by Oversea-Chinese Banking Corp, according to an internal note seen by Reuters.
Nathanael Tan joins UBS as a director from JPMorgan Singapore where he was part of the financial team.