Citi has appointed Aidan Allen as head of investment banking, a newly-created role for Australia and New Zealand.

Allen will retain his current role as head of general industries and financial sponsors. The new role will allow Allen to assume a greater leadership role across the bank's broader corporate advisory and capital markets businesses.

Shane Taylor retains his position as head of corporate banking Australia and New Zealand. Both Allen and Taylor will continue to report to Tony Osmond, head of corporate and investment banking, Australia and New Zealand.

Allen joined Citi in 2013 as head of general industries and financial sponsors and has been an important contributor to the success of those franchises over the past two years.