Insight & Analysis

Press Release: Citi establishes public side blocks business in Asia Pacific

Published: Feb 2021

1st February 2021 – Citi today announced the launch of a public side Blocks business in Asia Pacific, which is a significant addition to Citi’s Global Blocks service offering. The Asia Pacific team will play a key part in the expansion of Citi’s capabilities in the listed Equity Block liquidity solutions space, and will act as strategic advisors to Citi’s global clients looking to source capital and liquidity in the region’s Equity markets.

Newspaper press release

The Hong Kong-based desk will be headed by Lee McQueen, who joins Citi from CLSA and brings with him over 25 years of Cash Equity experience. He has traded Asian equity markets since moving to Hong Kong from London in 1994. McQueen will report to both Angus Richardson, Pan Asia Advisory head and Execution Services co-head, and London-based Mark Sukhenko, head of Citi’s Global Blocks business. McQueen will be joined by David McConnell, who will transfer from Citi’s High Touch sales trading team. McConnell has been in Asia Pacific for over 20 years, having spent 5 years in both Japan and Australia before returning to Hong Kong in 2011.

“The sourcing of liquidity remains a vital issue for clients in the region. Trends in cash equities continue to show evidence of bifurcation between more stock traded through automated channels and clients doing sizeable block trades,“ said Richardson.

“Our global client base has consistently requested we provide an enhanced service related to block liquidity access and solutions. This new desk in Asia Pacific is an exciting and significant addition in this regard. Combining Lee and David’s extensive experience and harnessing it to Citi’s unique global network will provide a powerful service for our clients with bespoke liquidity needs,” said Sukhenko.

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