CITI ESTABLISHES INVESTOR SERVICES TEAM SPECIALIZING IN EXCHANGE TRADED FUNDS
Jeffrey McCarthy to lead new global ETF servicing capabilities aimed at providing comprehensive solutions to support ETF development, capital, liquidity analysis, transactional services and distribution.
New York, NY - March 15, 2010 – Citigroup today announced the appointment of Jeffrey McCarthy as Global ETF Product Head in its Securities and Fund Services business (SFS), to accelerate efforts in Exchange-Traded Funds and related product services globally. He will be responsible for product innovation and market development and will coordinate the delivery of end-to-end servicing solutions across trading, distribution and administration for the global ETF market. Mr. McCarthy joins Citi from Brown Brothers Harriman, where he was the Global ETF Product Manager.
"With its global network and reach, Citi is uniquely positioned to help promote ETF product innovation and distribution in domestic and international markets," said Neeraj Sahai, Global Head of Citi’s Securities and Fund Services. "Jeff’s extensive market experience and product expertise will complement Citi’s emerging market capabilities and help enable our asset manager clients launch new ETF products on a comprehensive basis."
Citi will offer product development assistance, pre-launch coordination, global servicing platforms and distribution solutions including cross-listing models. Mr. McCarthy will report to Chandresh Iyer, Head of Global Custody and Investment Administration Services and will be supported regionally by Simon Fellows in Asia Pacific, Erick Carvalho in Latin America and Bernard Hanratty in Europe.
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.
About Global Transaction Services
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.