Fergus Pery Joins Citi as Global Product Head of OpenCollateral SM

New York, NY - July 6, 2011 – Citi today announced that it has hired Fergus Pery as the Global Product Head of OpenCollateralSM. The growing focus on counterparty exposure and changing regulatory environment are driving an increased focus on collateral management. Mr. Pery’s appointment to this new role enhances Citi’s collateral management resources to assist clients in this changing environment.

Mr. Pery, who is based in London, joins Citi from JP Morgan Chase and brings to the role extensive industry and product expertise as well as a deep understanding of client needs in this space. In his role, Mr. Pery is responsible for the both technical sales and product management globally for OpenCollateral. He reports to Rajen Shah, Global Head, Collateral Management for Citi’s Securities and Fund Services.

Neeraj Sahai, Global Head of Securities and Fund Services, with Citi’s Global Transaction Services, said, "We are very pleased that Fergus has joined our organization. His experience and knowledge of the collateral management industry will be an asset to our clients as we continue to build innovative solutions in this space."

Citi offers collateral management services through OpenCollateral, irrespective of a client’s custodian or prime broker. OpenCollateral acts as trusted agent, interacting with clients’ counterparties and delivering a comprehensive range of services that meet clients’ operational and asset optimization needs by providing flexible and customizable solutions designed to mitigate risk, improve return on assets and manage client relationships.

Launched in 2009, OpenCollateral is a key component of Citi’s comprehensive OTC Derivatives Service that consolidates and simplifies the entire post-trade execution process. The offering provides clients with access to a full range of middle- and back-office services on a single platform, including confirmation, settlement, valuation services, collateral management, margin management, and access to Citi’s global clearing network.

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 $13 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, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the first quarter of 2011, it held on average $355 billion in liability balances and over $13 trillion in assets under custody.

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About Citi
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