In this role, Elizabeth will oversee the company’s regulatory and governance risk management and will be responsible for managing portfolio risks and providing robust oversight of our lending and counterparty credit risk activities.

Elizabeth is an experienced banking executive with 23 years’ experience in Risk Management and Corporate Banking. She joins from J.P. Morgan where she most recently served as a Relationship Executive in its Corporate Bank. Prior to this, Elizabeth was J.P. Morgan’s Head of Credit Risk for Australia and New Zealand.

Citi Australia and New Zealand CEO Mark Woodruff said, “I am excited to welcome Elizabeth to Citi. Elizabeth brings great experience to this role and has a deep understanding of the local client and regulatory landscape. I look forward to her contribution to our leadership team and her contribution to the local and global franchise.”

Elizabeth will be based in Citi’s Sydney office and will report to Mark Woodruff, CEO Citi Australia and New Zealand and Ashish Sethi, Head of Japan, Asia North & Australia (JANA) Cluster & Banking Risk.

Commenting on her appointment, Elizabeth said, “I am delighted to be joining Citi and look forward to leading Citi’s best in class governance and risk management environment to deliver great outcomes for clients.”

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Mark Woodruff

Global investors who collectively manage over AU $27 trillion in assets under management have travelled to Sydney to hear the Australian Treasurer and other senior government ministers, the RBA Deputy Governor, regulators and Australian CEOs showcase key investment opportunities in Australia.

Hosted on Friday by Citi in collaboration with the Australian Government, the 2024 Citi A50 Australian Economic Forum welcomed almost 100 senior participants.

Attendees included representatives from some of the world’s largest fund managers from the US, Canada, Europe, Japan, Malaysia and Singapore and top domestic investors including the largest superannuation funds and asset managers.

Panels chaired by ministers, and including CEOs of Australian companies, discussed investment opportunities in the following key sectors: energy transition and climate change, housing, manufacturing and technology, and critical minerals.

The forum also delivered an update on the regulatory state of play from the Chairs of the ACCC, ASIC, APRA and FIRB.

“Global investors want transparency and certainty on the investment environment in Australia. This includes clarity on regulation and policy stability,” said Citi Australia CEO Mark Woodruff.

“Investors are also calling for proactive government and regulatory engagement to help mitigate challenges around regulatory settings, skills shortages, greenfield expansion and geopolitical risk,” Mark continued.

“At the A50 forum, government addressed these concerns directly. It was clear across all discussions that given the right framework and government support there is significant appetite for long-term investment in Australia.

“Australian business leaders need to ensure we highlight the tremendous opportunity for long term growth in Australia, in an outright and relative sense,” Mr Woodruff added.

The forum featured keynote addresses from Australian Treasurer, The Hon Dr Jim Chalmers MP on why Australia is a compelling and essential investment destination, particularly in an uncertain and unstable world, and recently appointed Deputy Governor of the Reserve Bank of Australia Andrew Hauser.

Other government representatives contributing to the event included Minister for Climate Change and Energy the Hon Chris Bowen MP, Minister for Industry and Science the Hon Ed Husic MP, Minister for International Development and The Pacific The Hon Pat Conroy MP, Chair of the House Economics Committee Dr Daniel Mulino MP and Assistant Minister for Regional Development Anthony Chisolm.

Also in attendance was Australia’s Consul-General in New York, Heather Ridout AO. Commenting on the forum Ms Ridout said, “Australia stands out as an investment destination, with a robust economy, strong governance structures and a highly skilled workforce that can serve as a fantastic gateway to Asia.

“By directly connecting investors with government, and facilitating frank conversations, the A50 forum is helping to catalyse investment opportunities in Australia.”

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Mark Woodruff

Citi Australia has named Mark Woodruff as its new Head of Markets for Australia and New Zealand, following the announcement of Luke Randell’s retirement earlier this year.

In his newly appointed role, Woodruff will be responsible for developing and implementing regional product delivery strategies for the Australia and New Zealand business, while maintaining a strong risk management discipline and culture. Woodruff is currently Head of Investor Sales for Australia and New Zealand and will retain these responsibilities.

Commenting on the appointment, Citi Australia and New Zealand CEO, Marc Luet, said: “Mark joined Citi more than two-decades ago and has held a number of important senior leadership positions in Australia including Head of FX and Corporate Derivative Sales and most recently as Head of Investor Sales. In this role, Mark has consistently increased franchise revenue and market share, by driving key client segment initiatives, particularly across Superannuation Funds and Financial Intermediaries. Mark is a trusted and esteemed leader both internally and to our clients.”

Luke Randell has had a distinguished career with Citi, spanning more than three-decades, and has worked across Australasia, the Asia Pacific and EMEA regions in sales, structuring, research and capital markets.

“Luke has led our Markets and Securities Services business in Australia & New Zealand since 2017 where he has created a winning culture, achieved outstanding results, and evolved the business with new products and clients,” Mr Luet said. “We would like to thank Luke for his contribution to the franchise over the years and wish him all the best in his next endeavours.”

Citi’s Markets and Securities Services division provides products and solutions for corporates, institutional investors, and governments through underwriting, structuring and sales and trading across all asset classes, sectors and industries. It is one of the largest brokerages in Australia.

Woodruff’s appointment is subject to regulatory and compliance approvals.

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