Citi hires Alex Schrantz as head of corporate finance for Asia-Pacific

Citi woos Alex Schrantz from Barclays to take on a newly created role as head of corporate finance for Asia-Pacific.
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Photo: Bilderberg </div>
<div style="text-align: left;"> Photo: Bilderberg </div>

Citi announced in an internal memo yesterday that it has wooed Alex Schrantz from Barclays to join the US firm as its new head of corporate finance for Asia-Pacific. He will be based in Hong Kong.

Schrantz had been head of Barclays’ corporate finance advisory and execution team for Asia-Pacific since May 2011. Prior to this, he spent 19 years with Goldman Sachs in New York, London and Hong Kong, where his last job was head of corporate finance for Asia ex-Japan. In that role, he was a member of Goldman Sachs's global commitments committee and the Asia capital committee. 

Schrantz is the second banker in one year to join Citi after a brief stint at Barclays. Late last August Citi hired Gary Kuo from Barclays as vice-chairman of Asia global banking. At Barclays Kuo was co-head of investment banking for Greater China.

Citi has certainly been taking the view that a downturn is a time to build, which has prompted the competition to spew that the US firm will regret its banker shopping spree later.

But, so far, the cherry-picked hires have been in growth markets: in July the firm brought on board veteran Morgan Stanley banker Will McLane as head of corporate and investment banking for the Asean region; and in March it lured Roger Zhu from CICC to join as co-head of China corporate and investment banking.

Schrantz is expected to start at Citi in November. He will be a senior member of the Asia-Pacific corporate and investment banking (CIB) management team and his mandate will be to oversee transaction resourcing and execution and to assist with the origination of capital markets transactions. He will report to Farhan Faruqui, Citi's head of CIB for the region.

Schrantz’s experience in Hong Kong includes having served as a member of the stock exchange listing committee from 2006 to 2010. He has also executed more than 20 IPOs in this market. Some of the landmark financing transactions he has worked on in Asia include: the IPOs for AIA, Hutchison Port Holdings Trust, The Link Reit, Sands China and; multiple American depositary receipts (ADR) offerings for TSMC and Chunghwa Telecom; and multiple bond offerings for Hutchinson Whampoa and Cheung Kong (Holdings).

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