Citi Agency and Trust Services Appoints Douglas Tienken as Director for Insurance Trust Sales
New York - August 31, 2011 – Citigroup today announced that its Global Transaction Services business has appointed Douglas Tienken as Director in Agency and Trust Sales, focused on the Insurance Trust product. In this role, Doug will assist Citi’s clients with their reinsurance needs through Regulation 114 Trusts, NAIC Surplus Lines Trusts, Regulation 41 Trusts, as well as Regulation 20 Master Reinsurance Trusts. Based in New York, Doug will report to Paul Burke, Managing Director, Head of Agency and Trust Sales for the Americas at Citi. Doug will also be working closely with Steven Wager, Director in the Global Custody Group, who is responsible for the Insurance Trust product within GTS.
Prior to joining Citi, Doug was a Vice President at Goldman Sachs in their Institutional Cash & Specialty Trust group responsible for new business development related to depositary services including escrow, collateral agent and paying agent roles. Prior to that, Doug was a Vice President in sales at Bank of New York Mellon where he focused on new structured finance business in their Global Corporate Trust division. Before that, Doug held several positions at JP Morgan in the Worldwide Securities Services business.
Alan Smith, Managing Director and Head of Issuer Services at Citi said, "We’re fortunate to have Doug join the Citi team to drive sales for the Insurance Trust group, and look forward to his contributions to our clients and business. Doug brings unique industry expertise and knowledge to the role, as well as broad experience gained from his many years working in Trust services. His experience and deep understanding of the marketplace will be critical as we continue to grow Citi’s Agency and Trust franchise."
About Agency and Trust
Agency and Trust, a business line within Global Transaction Services, offers a full range of agency, fiduciary, tender and exchange, loans administration and custody, and depositary and escrow services in both established and emerging markets. Our Administrative Agent Services provide clients with the experience and expertise of one of the leading administrators of syndicated loans. As either Administrative Agent for new facilities or Successor Administrative Agent for existing facilities, Citi provides responsive, thorough solutions to facilitate the efficient and effective administration of syndicated loan facilities.
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, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the second quarter of 2011, it held on average $365 billion in liability balances and $13.5 trillion in assets under custody.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through 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.
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