A senior Citigroup banker, Alexander Schrantz, is leaving the firm to rejoin Goldman Sachs, according to sources familiar with the matter. This move marks the latest high-profile departure from Citi's Hong Kong team, following the exit of its Asia investment banking head earlier this year.
Schrantz, who most recently served as the head of corporate finance for North Asia, Australia, and South Asia, is returning to the bank where he previously spent 19 years. The sources spoke on condition of anonymity as the personnel changes are not yet public. Representatives for both banks declined to comment.
Schrantz's departure comes as Citigroup works to revitalize its Asian operations. Data shows the bank's ranking in Asian equity underwriting has fallen from first place in 2024 to seventh this year. Schrantz first joined Goldman Sachs in 1992, had a brief stint at Barclays, and moved to Citigroup in 2012. He did not respond to requests for comment.
This development follows a series of senior management changes at Citigroup's Asia division. Jan Metzger, co-head of Asia investment banking, left in late March to join Standard Chartered, after the bank appointed a new co-head for the region. Hong Kong investment banking head Ben Ngai left in November, with Schrantz temporarily taking over his role.
The competition for experienced investment banking talent is intensifying as Hong Kong's IPO market continues to heat up. Schrantz was recently appointed to a Hong Kong Exchange committee responsible for approving IPO applications.
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