Citi Global Transaction Services Expands Its Senior Team
LONDON - May 12, 2009 – Citi announced today that its Global Transaction Services business has appointed Jervis Smith as Global Head of Client Executive within Securities and Fund Services and Richard M.F. Ernesti as Global Head of Investor Services Client & Sales Management. Both will be based in London.
Jervis has rejoined the Global Transaction Services Division at Citi to manage the delivery of account management and client service for Citi's investor clients around the world. Having helped to build Citi's businesses for a number of years, Jervis will continue to leverage the relationships developed over a fifteen year participation in the Funds industry. Until recently he was running the Financial Institutions franchise in the Corporate Bank for Managed Funds and Middle East.
Richard takes on his new role as, Global Head of Investor Services Client & Sales Management, and will be responsible for managing the international sales teams for the securities custody and clearing, fund accounting, trustee services, alternative investments administration and the securities lending businesses. Richard has held a number of senior roles at Citi, most recently as the Global Head of Prime Broker Relationship Management in Citi's Prime Finance division. Richard has a tremendous experience and knowledge of the Prime Brokerage business having played a key role in growing the business across the globe.
Dirk Jones, Global Head of Financial Institutions Client Sales Management, GTS, Citi, said, "Both Jervis and Richard are widely recognised and respected in the securities and fund services industry and will lead an important effort in both maintaining and growing Citi's GTS business. These appointments are testament to Citi's commitment to continue to provide clients with expertise of the highest calibre".
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, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.
About Citi 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 organisations around the world. With a network that spans more than 100 countries, Citi's Global Transaction Services supports over 65,000 clients. As of the first quarter of 2009, it held on average $278 billion in liability balances and $10.3 trillion in assets under custody.