Citi has created the new position of head of investor services for Luxembourg, naming Jervis Smith to the role, according to an internal memo seen by Global Custodian.
Smith is a long-serving employee of Citi, most recently heading up sales for the bank’s securities services business in APAC.
Global Custodian reported last month that Citi had hired Patrick O’Brien from JP Morgan with an eye on driving the firm’s offshore business development efforts for Ireland and Luxembourg.
Smith’s appointment to the Luxembourg role is another example of Citi’s commitment to the country.
With Britain voting to leave the European Union, Luxembourg and Ireland are looking like attractive places for funds to relocate should they wish to be domiciled within the EU.
Prior to Citi, Smith served as executive director of the Financial and General Bank Plc. based in London for eight years and was with the National Westminster Bank from 1982 to 1986.
In the role, Smith will report to EMEA head of securities services Chris Cox and to Luxembourg CCO Alberta Brusi.
Citi prioritising Luxembourg fund business with new role
Citi adds another big name to its Luxembourg business through newly created role.