Stefan Boisen has been appointed as the new chief executive of Citi New Zealand, pending local regulatory approval. Boisen, who will report to Mark Woodruff, the head of Citi’s Australia and New Zealand sub-cluster, is succeeding Derek Syme who retired at the end of 2023.

In his new role, Boisen will lead Citi’s strategy in 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," the global bank announced.

Leading successful teams at Citi NZ

Boisen is not new to Citi New Zealand. He has been the head of its corporate bank and has worked with the team for over a decade, overseeing "strategy, origination and execution across Citi’s corporate, financial institution and public sector client base in New Zealand."

The incoming CEO also has a "demonstrated history of leading successful teams and advising clients on both local and international financing transactions in the bank and bond markets, capital structure and ratings advisory services, and derivative risk management".

READ MORE | Mark Woodruff to head Citigroup in ANZ

Woodruff said he was delighted over Boisen's CEO appointment, noting the importance of the New Zealand market to Citi.

"I am delighted that we have been able to appoint local Citi New Zealand talent to this role," he said. "New Zealand is an important growth market for Citi, and I am confident Stefan will lead the team in New Zealand with excellence as they continue to provide exceptional support to our clients and maintain the ambitious growth trajectory of the business."

Boisen, meanwhile, expressed his honour in taking on the role, especially as Citi New Zealand is marking another milestone in serving its clients.

"It is a privilege to step into this role as Citi New Zealand celebrates 50 years of servicing clients in New Zealand," he said in a Citi news release.

"As one of the few full-service institutional businesses in New Zealand, Citi has a strong and unique client offering. I look forward to working with our New Zealand clients, using our extensive global network to support their growth strategies and ambitions."

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Citi appoints Chang as future head of ANZ markets

Citibank's history in the region dates back to its entry in Australia in 1916 and New Zealand in 1974.

Boisen's CEO announcement in New Zealand, however, is only one of the newest senior executive appointments happening at Citi in the region.

In early February, Citi named Cristina Chang as the future head of the ANZ sub-cluster after Woodruff was elevated to CEO of Citi Australia in April 2023.

Chang's pivotal role will set her at the forefront of market strategy following her tenure in Hong Kong. While her transition to Sydney is on the horizon, the appointment marks another chapter in her more than 16 years with Citi. Apart from the new role, Chang will continue to oversee her duties as Head of Global Spread Products, Financing & Securitization in Asia Pacific.

"I am excited to be returning to Australia to lead the Markets business," Chang said. "We have a strong understanding of the opportunities and challenges facing Markets clients in the current environment."

Woodruff also commended Chang on her journey. "Cristina brings a wealth of experience from her current role where she has been responsible for developing a market-leading structured finance franchise in Asia Pacific. Her appointment demonstrates our commitment to grow and invest in the Australian and New Zealand franchise and I am delighted to have her lead the Markets team.," he said.

Woodruff, a 20-year veteran himself, is at the helm of Citi Australia. "It is a privilege to step into this role and lead the franchise," he said.

"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."