| Citi’s expanded strategy to target mid-sized Irish corporates |
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Citi, one of the IFSC’s largest employers, is expanding its Commercial Bank activities in Ireland to target mid-size companies across a range of sectors including the manufacturing, pharmaceutical, life sciences, professional services and healthcare sectors who are looking to scale internationally. | | Davinia Conlan, Citi Country Officer, Ireland. |
Citi, one of the longstanding pillars at the top end of the Irish corporate banking market, has been active in the Irish mid-market for over five years through its Citi Commercial Bank (CCB) franchise and has primarily targetted digital and tech companies during this time.
To spearhead CCB’s expanded remit Craig Duignan has been appointed as head of Ireland for Citi Commercial Bank and will oversee the development of the franchise in Ireland. Duignan joined Citi in 1998, holding multiple roles in the bank’s investor services division before joining Citi Commercial Bank in 2019 to help build its digital, technology and communications business across Western Europe.
The move by Citi follows the recent setting up of a new commercial banking unit in Dublin by J.P. Morgan that is targetting Irish, venture-backed companies with high-growth potential in industries including disruptive commerce, technology, life sciences, healthcare IT and climatetech.
CCB’s expansion in Ireland forms part of its European strategy which has seen it launch branches in France, Germany and Switzerland in the last 12 months.
Citi’s Country Officer, Ireland Davinia Conlan said the move will allow Citi Commercial Bank to leverage the bank’s global network to support Irish corporates looking to scale their businesses internationally. Citi employs around 2,900 people in Ireland and is in the process of developing a new HQ building at Waterfront South Central in Dublin. |
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