Citi’s Global Transaction Services business has appointed Richard Street as Head of Securities and Fund Services (SFS), Middle East and Jason James as Product Head of Issuer Services in the Middle East and North Africa (MENA) – based in Dubai.
Previously, Street was responsible for Citi’s Securities and Fund Services Strategy and Business Development in the Middle East and North Africa. He now assumes expanded management responsibility as Head of SFS in the Middle East, reporting to Murali Subramanian, Head of Global Transaction Services, MENA, and Andrew Gelb, Head of Securities and Funds Services for Europe, Middle East and Africa (EMEA).
James will report to Andrew Mulley, Head of Issuer Services for EMEA and Richard Street and will be responsible for all aspects of the Issuer Services business in MENA. Citi launched its Issuer Services business in the Middle East in April 2008 providing on-shore agency and trust capabilities to clients in the Middle East. Previously, James spent 12 years with Issuer Services at Citi in London, most recently as strategic development manager for EMEA. This appointment reinforces Citi’s commitment to expanding its existing MENA Issuer services business.
“Both have an established track record of growing our franchise with extensive client relationships,” says Andrew Gelb, head of securities and funds services for Europe, Middle East and Africa and Andrew Mulley, head issuer services for EMEA, Citi. “The Middle East is an exceptional market place – one demanding local solutions with global service standards. Their addition to the team further affirms our commitment to this important region.”
Citi has identified the Middle East as a strategic focus for SFS business and have set a goal of delivering market leading capabilities and practices locally from within the Middle East. This build out has already begun with the launch of a local custody capability for the three UAE markets in January of 2009 and Bahraini Fund Administration and Custody announced in July 2008.
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