CITI has appointed Matthew Nimtz and Jonathan Quek as co-heads of banking, capital markets and advisory in Asean, with immediate effect.

In an internal memo seen by The Business Times, Citi said they will replace David Biller, who as previously announced will be relocating to Europe at the end of the year to take on a broader role as co-head of industrials for EMEA, Asia and Japan.

Nimtz will also maintain his existing role as head of Asean M&A, while Quek will continue leading as co-head of real estate investment banking, Asia, as well as head of investment banking, Singapore.

"Matt and Jon are long-time Citi veterans and have worked together in Singapore for the past ten years," the Citi memo said.

"Matt and Jon's leadership will be instrumental in continuing the strong momentum in the increasingly important Asean market."