Citi's head of Australian equities research has moved to boutique research house MST Financial.
Craig Woolford made the move to MST after 16 years at Citi, most recently head of research for Australia.
At MST he will be partner and senior research analyst. The firm is staff-owned, having a very different operating model to Citi.
MST chief executive Gerard Satur said Woolford will be covering the retail and direct to consumer sector, which makes up about 10% of the ASX 200.
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"He is one of the most respected analysts in the whole of the Australian market," Satur said.
"Clients want him to focus on what he does best."
MST launched just four years ago and now has 140 clients. Satur said the firm's strategy is to hire the best analysts to cover each sector.
Meanwhile, a permanent appointment to replace Woolford has not yet been made at Citi.
A spokesperson for Citi confirmed that Paul McTaggart, APAC head of metals and mining research, is currently acting as the interim head of research