To lead its on-ground research presence, Citi has hired Minda Olonan as head of equity research for the Philippines.
Based in Manila, Olonan will commence her new role on 15 December 2010, from UBS Securities Philippines, where she was most recently a director covering the Philippine banking sector research since May 2006.
The bank said that Olonan will be supported by Karisa Magpayo, who will join as the Utilities analyst based in Manila.
Magpayo joined Citi from Asian Development Bank, where she consulted on capital-raising activities, new structured products analysis as well as investor relations since 2009.
Citi Philippines CEO Sanjiv Vohra said the presence of a research platform further enhances the ability to offer clients leading research platform and help raise the profile of Philippines’ corporations with global investors.
Citi Asia Pacific Investment Research and Analysis head Brent Robinson said that the buildout of Philippine research platform adds to the broader coverage of Asian equity franchise.
"We continue to invest in our research platform to help our regional and global clients who are increasingly looking to invest in Asian equities given the region’s growth prospects," Robinson said.
Citi has been covering Philippines macro economics since 2000, when it appointed Jun Trinidad as its country chief economist. Along with Trinidad’s house views, Citi provides research coverage on two sectors in the Philippines through its regional analysts based in Singapore and Hong Kong.
