Citigroup hires team to capture Aussie unicorns

CITI, which set up a commercial-banking business in Australia in 2019, is planning to expand its team to 35 by the end of 2024 from 22 currently, according to Alex Syhanath, head of the local unit.

SYDNEY: Citigroup Inc, which typically advises the world’s biggest companies, is hunting for smaller clients in Australia, targeting businesses with revenue of as little as A$75mil (US$53mil or RM225.19mil) to get a competitive advantage in major deals down the track.

The United States lender, which set up a commercial-banking business in Australia in 2019, is planning to expand its team to 35 by the end of 2024 from 22 currently, according to Alex Syhanath, head of the local unit.