Citi names new regional chief

Citi appointed a new head of Australia as incumbent David Livingstone takes the reins of the EMEA business.

Marc Luet will become the chief executive for Australia, as well as lead the New Zealand business. He is currently cluster head for Israel, Kazakhstan, Poland, Russia, Turkey and Ukraine.

He joined Citi in 1991 and spent more than 10 years working in marketing, risk and operations across Europe and North America. After leaving Citi, he returned in 2010 as head of Citicorp consumer and commercial banking for EMEA.

Luet will report to Tim Monger, interim chief executive of Asia Pacific, and will join the Asia-Pacific operating committee.

Luet's new responsibilities includes developing and implementing business strategy, fostering client relationships, managing risk and controls, and protecting and enhancing Citi's reputation in Australia.

He succeeds Livingstone, who was recently appointed chief executive for Citi's Europe, Middle East and Africa region.

Livingstone said Luet will be invaluable as Citi pursues its growth strategy in Australia and New Zealand.

"We shall look to Marc to build on the bank's successful client relationships, while ensuring a strong return on capital for all Citi's businesses in Australia and New Zealand," Livingstone said.

Read more: CitiDavid LivingstoneMarc Luet
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