Briefs: NAB closes Citi deal, new FINSIA president, new x15 portfolio director, RBNZ seeks public in 02 June 2022 5:47AM Banking Day staff Briefs, M&A, Citigroup Pty, NAB, Appointments, CBA, Finance regulation NAB has completed its A$1.2 billion acquisition of Citigroup’s Australian consumer business. At March 31, Citi had mortgage balances of $8.8 billion, an unsecured loan portfolio (largely made up of its white label credit card business) of $3.95 billion and deposits of $9.4 billion. About 800 Citi employees, including senior management, will join NAB. The Financial Services Institute of Australasia has appointed David Cox as its new president. Cox is a financial services assurance partner at PwC. He replaces Victoria Weekes, who has served a maximum term. The FINSIA board also has three new members – Christine Yates, Rodney Jackson and Paul Riordan Commonwealth Bank’s venture capital arm x15ventures has hired Laura Faulconer to be its portfolio director, with responsibility for growing the investment portfolio. Faulconer is moving from early-stage venture capital firm Antler, where she was an associate partner. CBA has given x15ventures the task of “building the next generation of solutions for the bank’s customers and unlocking value from the bank’s assets through partnership with the tech and innovation community.” The Reserve Bank of New Zealand has launched a public consultation process to feed into its upcoming five-yearly review of its monetary policy remit. RBNZ chief economist Paul Conway said the bank wanted to know: “Do people think the inflation target is about right? How should we go about supporting maximum sustainable employment? How relevant are major economic trends under public discussion, such as house price sustainability, distributional outcomes, or climate change?” The survey is open until 15 July.