Citi Appoints New Head of Direct Custody and Clearing in EMEA
New York - December 20, 2011 – Citi today announced the appointment of Reto Faber as Head of Direct Custody and Clearing (DCC) in Europe Middle East and Africa (EMEA).
Reto brings over 20 years of experience in Banking and Securities Services. He joined Citi in 1989 as a Relationship Manager in the U.S. and held various senior client facing and product roles including product manager for Worldwide Securities Services, and business development for the Global Clearing business. More recently, Reto was the Head of the EMEA Broker Dealer segment and became EMEA Head of Financial Intermediaries in 2009.
Reporting jointly to Andrew Gelb, EMEA Head of Securities and Fund Services and Lee Waite, Global Head of DCC, Reto will be responsible for the management and development of Citi’s proprietary DCC network in 34 markets across EMEA.
Andrew Gelb, EMEA Head of Securities and Fund Services, said: "The EMEA region is a critical one for Citi’s global direct custody and clearing franchise. In light of the regulatory changes that will affect Europe in the coming years, ensuring the right leadership for DCC EMEA is a top priority. I am confident that Reto’s excellent track-record and long-standing experience will further strengthen our platform."
Lee Waite, Global Head of Direct Custody and Clearing, said: "With the industry’s largest proprietary custody network currently at 60 markets, the ongoing growth of this business depends on key managers ensuring that Citi continues to provide its clients with the highest standards of technology and processes. Reto’s appointment will help us carry forward this strong momentum."
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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.
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