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Citi has strengthened its operations business in Spain by appointing a new leader for its Equity Capital Markets (ECM) division there. Marta Arteaga, who has previously worked at JPMorgan, UBS, and STJ, will now oversee the division for Spain and Portugal. Citi aims to become the go-to advisor for companies looking to go public, raise capital, or sell shares, as well as for investors on the other side of these transactions.

The bank is focusing on expanding its ECM business not only in Spain but globally, as it has seen a surge in interest in this segment this year. Arteaga, with her extensive experience in ECM and her previous roles at JPMorgan and UBS, will be based in Madrid, Lisbon, and London, providing high-level support to Spanish companies and investors.

Citi has secured the global coordination position in the IPOs of Hotel Investment Partners (HIP) and Ignis, two companies near the top of the Spanish capital market. Ignis, a renewable energy and data center group, is targeting a maximum of €600 million in its upcoming offering, with only Santander and Morgan Stanley alongside Citi as underwriters.

The strong demand for ECM services from both corporate and institutional clients has led to Citi holding its position as the third-largest commission-earning bank in Spain, following Santander and JPMorgan, according to Dealogic data.