Citi appoints tech coverage head for Australia NZ

Citi announced the appointment of Cristina Mascanzoni as director and technology coverage lead for Australia and New Zealand, signaling an intensified focus on the region’s tech sector.

New role builds on recent hiring wave

Mascanzoni arrives from Goldman Sachs, where she worked on a range of high‑profile transactions. Her experience includes advising on Zip’s equity raise, a convertible bond restructure, Afterpay’s cross‑border sale to Block, and a strategic review of OFX. Citi says the move reflects the bank’s ongoing investment in technology coverage and its ambition to establish a market‑leading franchise in the two‑country market.

In the new position, she will report jointly to Ben Connolly and Philippe Perzi, co‑heads of capital markets and advisory. She will lead Citi’s technology coverage efforts, coordinating with sector, product and offshore teams to provide a streamlined approach for technology clients and opportunities.

Recent deals highlight Citi’s tech focus

Over the past several months, Citi has been active in the global technology arena, leading more than $40 billion of convertible bonds and advising on some of the largest recent IPOs. Notable examples include SpaceX’s $75 billion offering and SK Hynix’s $26.5 billion share sale.

The bank also acted as exclusive financial adviser to Cognite on its $3.1 billion sale to Schneider Electric and served as capital markets adviser to Apollo. It was joint bookrunner and lead arranger on Broadcom’s $35 billion AI XPV Platform, and supported Blackstone’s potential IPO of Airtrunk assets on the Singapore Exchange.

Citi is sole lead manager for Gilmour Space’s pre‑IPO funding and has advised Dhilmar on a $3.9 billion acquisition of Anglo’s steelmaking coal portfolio. It also counseled Steadfast on responding to a $5 billion takeover proposal from a consortium that includes Amwins Group, Dragoneer and KKR.

These transactions illustrate why the bank views technology as a significant growth area. The sector’s overlap with infrastructure, healthcare, financial services and sponsor activity means that integrated coverage across product lines is essential for delivering the full suite of capabilities.

From a broader perspective, the appointment reflects a trend among major banks to localize expertise in fast‑growing tech hubs. By placing a dedicated leader in the Australia‑NZ market, Citi is positioning itself to capture deals that might otherwise flow to competitors with stronger regional footprints.

Earlier this week, the firm also hired five managing directors for its U.S. technology investment banking franchise, reinforcing a global push to expand tech advisory capacity.

Her mandate will involve close collaboration with existing sector teams, product specialists and offshore groups. The goal is to create a cohesive front that can address client needs ranging from capital raising to strategic advisory, while also managing the increasingly complex regulatory environment that surrounds technology businesses.

Industry observers note that the Australian and New Zealand markets have seen accelerated tech investment in recent years, driven by both domestic startups and multinational expansions.

Citi has not disclosed specific financial targets for the new role, but the emphasis on technology suggests that the segment is expected to contribute materially to earnings outlook.

Integrated solutions could prove decisive for client acquisition and retention.