Citigroup has won its first mandate in Australia since it fell foul of the country's regulator in March, advising financial services company Suncorp-Metway on its A$7.9bn (€4.7bn) bid for a rival insurance group.

Suncorp said Citigroup had been appointed alongside Carnegie Wylie on a cash and shares deal for Promina Group, an insurance and financial services company, in a statement to the Australian Stock Exchange today.