Tracey Woon becomes Citi's SE Asia investment banking head

Woon retains her position as global banking head for Singapore, but takes up this newly created role to help build Citi's Asean coverage.
Tracey Woon

Citi has appointed Tracey Woon as head of investment banking coverage for Southeast Asia in a newly created position designed to help improve the bank’s track record in Asean. Woon will also retain her existing role as global banking head for Singapore.

An internal memo seen by FinanceAsia noted: “While we have a strong global banking business across Asean markets, our investment banking business has significant upside potential, hence the need for dedicated leadership and greater coordination of our investment banking franchise in Asean to help with driving the expansion of our business in these critical, dynamic and growing countries.”

Existing global banking heads in Indonesia, Malaysia, the Philippines, Thailand, Bangladesh, Sri Lanka and Vietnam will report to Woon, the memo said.

"We are seeing increased opportunities in the Asean region for capital raising and M&A activity, and this new appointment underlines our focus on ensuring we are in the middle of these flows. Citi has a long history in Asean and this underlines the importance we place on the long-term partnership with clients in the Asean region," said Farhan Faruqui, head of global banking for Citi in Asia-Pacific, in the memo. Woon will report directly to Faruqui.

As head of global banking in Singapore, Woon is one of Citi’s most senior female bankers in Asia, (alongside Agnes Liew, who runs the corporate bank at Citi in Asia), noted a banker at Citi. She is a veteran of the Singapore markets, has excellent client relationships and has helped to win key mandates for Citi in Singapore, added the colleague.

Citi's track record in the region is strong; last year, it advised on the $611 million initial public offering of Cebu Air and the $3 billion IPO of Global Logistics Properties, but it also missed some deals in Southeast Asia.

“Basically, she remains head of global banking Singapore, but this wider Asean role is a remit to take us to the next level,” said the source.

More hires
Citi also announced yesterday the appointment of Mark Liinamaa as director and head of metals and mining research for Citi investment research and analysis Asia-Pacific (ex-Japan and Australia).

Liinamaa joins from Morgan Stanley in New York, where he was an executive director for metals and mining research, having been with the firm since 2002. Before that, he held various positions at Mining Group Inco in Canada, including as a mining engineer and mining operations supervisor. He will be based in Hong Kong.

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