CITI NAMES SANJIV SAWHNEY GLOBAL HEAD OF FUND SERVICES
New York, NY - March 1, 2010 – Citigroup today announced the appointment of Sanjiv Sawhney as Global Head of Fund Services for Citi’s Securities and Fund Services business. In this new position, Mr. Sawhney will provide leadership for Citi’s hedge fund, private equity and mutual fund administration businesses globally within Citi’s comprehensive suite of Investor Services solutions. Mr. Sawhney will report to Neeraj Sahai, Global Head of Citi’s Securities and Fund Services, and joins Citi from JP Morgan.
Commenting on this appointment Neeraj Sahai said: "We are very pleased that Sanjiv is rejoining Citi in this key leadership role. His extensive industry expertise and global experience will be instrumental as our fund clients cross borders and jurisdictions to explore attractive opportunities worldwide."
Mr. Sahai added," Increasingly, investment management firms -- as a result of the financial crisis -- are asking us to support their needs for increased risk mitigation and reduced infrastructure costs -- while helping them launch expanded product offerings using global distribution channels. Citi is uniquely suited to meet this challenge and Sanjiv has the expertise to strategically guide our initiative in the fund services space."
Mr. Sawhney has more than 17 years of securities services experience, including 15 years at Citi, where he began his career. He is rejoining Citi from JPMorgan, where he headed Fund Services operations in Europe and was Managing Director and Board Member of JPMorgan Bank Luxembourg. Earlier at Citi, he held key positions in Citi’s Fund Administration business, including the head of Fund Administration in Citi’s Europe, Middle East and Africa (EMEA) operations.
Mr. Sawhney earned a dual degree - a Bachelor’s degree in Electrical & Electronics Engineering and a Master’s degree in Economics - at the Birla Institute of Technology & Science.
Citi’s Investor Services is a global provider of innovative, modular solutions for Investor clients and is a new high growth area for the business. Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered though proven global platforms that feature modular, open architecture. With over $12 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi's local market expertise and global reach to extract value across the entire investment value chain.
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2009, it held on average $335 billion in liability balances and $12.1 trillion in assets under custody.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.