Citi Appoints Business Development Head for Collateral Management in EMEA

Philip Forkan has joined Citi as the EMEA head of Business Development for OpenCollateral, Citi’s open architecture global collateral management product.

Forkan, who started at Citi last week, worked most recently at Sapient Global Markets as head of its collateral and clearing practice. Previously, he was global head of collateral management at RBS.

In this newly created role, Forkan will help clients understand the impact of collateral on their businesses given the growing focus on counterparty exposure and pending introduction of the European Market Infrastructure Regulation (EMIR), which are driving an increased focus on collateral management.

Forkan reports to Fergus Pery, Citi’s EMEA head of OpenCollateral.

“Our clients are experiencing unprecedented change as a result of regulations such as Dodd Frank, EMIR and Base III,” says Sanjiv Sawhney, Citi’s EMEA head of Securities and Funds Services. “We have focused on building a team steeped in collateral experience to help our clients navigate these unchartered waters and to build sound and efficient collateral solutions that comply with the regulations, protect our clients and achieve this compliance and protection in an optimal way.”