Following the creation of a global wealth management joint venture with Morgan Stanley, Citi Australia will carry on its retail, corporate and investment banking operations, global transaction services, fixed interest, commodities and currency trading, institutional equity research and broking, and equity and debt capital market services.Citi Australia chief executive Stephen Roberts said there was a misconception that foreign-owned banks were pulling back in Australia. He said this was not the case. "Citi has a very strong tier one capital position and we are looking to make greater use of the balance sheet."Today our balance sheet outstandings are higher than in mid 2007. We are re-pricing for risk and we are looking for clients that want a deep relationship but we are not withdrawing from the market."My plan is to increase the corporate loan book, subject to getting the right rate of return on our exposure."