CITI NAMES DAVID MARTOCCI GLOBAL PRODUCT MANAGER OF THIRD-PARTY SECURITIES LENDING
Appointment of Industry Veteran Underscores Citi's Intensified Commitment to Third-Party Segment of Securities Lending Market
New York - June 30, 2010 – Citi's Global Transaction Services today announced the appointment of David Martocci as Managing Director and Global Product Manager of third-party securities lending and business development within its Securities and Fund Services unit. Third party lending programs provide a full-range of securities lending service for clients who have a custody relationship with another institution.
In this position, Mr. Martocci will be responsible for the development, management and sales for Citi's third-party securities lending program, and will serve as a member of Citi's Global Securities Finance's Management Committee. Dave will work closely with Richard Ernesti, Global Head of Investor Sales, to drive the sales initiatives for the business.
"Dave brings an exceptionally strong background in securities lending and the experience of a seasoned financial services professional to our operations," said Tim Douglas, Managing Director and Global Head of Citi's Global Securities Lending. "Having Dave on board will help us compete more aggressively in the long established and rapidly expanding third-party lending segment of our business."
A veteran of over 25 years in securities lending and institutional financial services, including serving as the Global Co-Head for Dresdner Bank's Securities Lending Business, Mr. Martocci brings significant experience to his role. Prior to joining Dresdner, he spent over five years at Deutsche Bank as Managing Director in charge of Global Asset and Liability Trading for their Securities Lending Division, establishing their presence in North America as a provider of non-custody Securities Lending services. He also was the Head of Asset and Liability trading at Lehman Brother's Trust Company. Prior to joining Lehman, Mr. Martocci was with J.P. Morgan and J.P. Morgan Securities, including roles serving as Head of J.P. Morgan's Securities Lending desk and at J.P. Morgan securities as manager of the overnight, term financing and term matched book teams for the repo desk as well as leading the Securities Lending sales force. Mr. Martocci received a Bachelor of Business Administration from Pace University.
Through its Securities and Fund Services business, Citi's industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With over $11.8 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 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.