Citi promotes Phillips to debt MD

Citi’s DCM veteran Duncan Phillips has been promoted to managing director as the bank continues to shore up business in the Asia bond space.

Duncan Phillips has been appointed managing director of Citi’s Asia-Pacific debt syndicate desk as the financial institution’s business in the bond space continues to grow.

Not only is Phillips a 12-year veteran at Citi responsible for the origination and execution of the region’s bond deals but he also oversees the bank’s medium-term note business in Asia.

His new role will be effective from January 1, 2015 and he reports to Ben Ng, head of syndicate and acquisition finance, a spokesperson confirmed.

The promotion is reflective of Asia’s burgeoning debt capital markets, with Citi’s share of it growing at a rapid pace.

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