Citi today announced the appointment of Mark Woodruff as Citi Australia CEO and Head of Citi's Australia and New Zealand Cluster, subject to local regulatory approval.

Mark will report to Tim Monger, Head of the North East Asia Cluster for Citi. Mark Woodruff succeeds Marc Luet, who was recently appointed CEO for Citi in Japan.

In this role, Mark will be responsible for driving Citi's strategy in Australia and New Zealand. This includes serving as a trusted partner to Citi's clients, maintaining a strong risk and control environment and fostering a high-performing, inclusive and supportive culture for the franchise.

Since January, Mark has been acting as the interim CEO and Cluster Head. Mark is a Citi veteran with 20 years of experience at the firm, joining in New York in 2002.

He has held senior leadership positions including Head of Investor Sales and most recently Head of Markets for Australia and New Zealand. Citi will soon commence the recruitment process to replace the Head of Markets role.

Commenting on the appointment, Tim Monger says “I am thrilled that Mark has been appointed to this role. I am confident he will drive the Australia and New Zealand businesses to further growth and support our clients as they navigate a challenging macro-economic landscape.”

“Mark's strong leadership credentials and markets experience means he is well-positioned to help Citi meet its global strategy to become a more focused, better-connected and simpler bank.”

Mark Woodruff added, “It is a privilege to step into this role and lead the franchise. Citi is a leader in Institutional Banking across Australia and New Zealand and I am excited to execute our aggressive growth agenda and bring the benefits of Citi's extensive global network to our local clients.”