CITI'S SECURITIES AND FUND SERVICES HIRES PHILIPPE DIRCKX
Hong Kong - June 8, 2010 – Citi’s Securities and Fund Services, a division of Global Transaction Services, has appointed Philippe Dirckx to the role of Managing Director, Regional Client & Sales Management Head for Intermediaries and Infrastructures, Asia Pacific.
Dirckx will lead a regional team managing an existing portfolio of high profile Banks and Broker Dealer clients ("Intermediaries"). In his role, he will also focus on building partnerships with Infrastructure clients, including regional exchanges, central depositaries and clearing corporations. His position will also include developing and executing market advocacy initiatives in the region.
Based in Hong Kong, Dirckx will report to David Russell, Managing Director, Region Head of Securities and Fund Services, Asia Pacific, and Globally to London-based Tom Isaac, Global Head of Client Sales Management for Intermediaries.
Dirckx joins Citi from Euroclear Bank in Hong Kong where he was Regional CEO of Asia Pacific. In this role he was responsible for all of Euroclear’s business activities and clients in the region. Prior to this role, he worked for Fortis in a variety of executive roles in Asia Pacific and Europe, primarily in the fixed income and derivatives areas.
Commenting on the appointment, Russell said, "Citi is well established as the market-leading provider of Direct Custody and Clearing Services for the brokerage community. Meanwhile, Infrastructures in Asia Pacific are evolving and their relationships with banking partners has moved up the value chain. Backed by his experience and deep understanding of clearing processes, Philippe will be a major participant in Citi’s broad strategy of partnering with infrastructures and intermediaries globally, regionally and locally and developing the most innovative solutions for our clients securities trading and clearing activities in this exciting region."
Through its proprietary network in 57 markets, Citi’s Securities and Fund Services business provides the clearing and settlement services required by broker dealers, global custodians and industry infrastructures, to support trading and investing activities around the world. 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 Citigroup’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, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the first quarter of 2010, it held on average $319 billion in liability balances and $11.8 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.