Satvinder Singh, head of Direct Custody and Clearing and Intermediaries in EMEA at Citi, is believed to have tendered his resignation from the firm to become head of the Trust and Securities Services (TSS) division at Deutsche Bank, according to a source with direct knowledge of the matter.
A London-based spokesperson for Deutsche Bank was not in a position to comment on the appointment late Friday, and a New York-based spokesperson likewise responded, No comment. Sources within the firms TSS unit did not immediately respond to phone calls or emails about Singhs appointment.
Singh did not respond to a phone call at his Citi office number Friday, and an email to his Citi email address returned an out of office reply.
Singh joined Citi in 2008 from HSBC, where he spent 14 years in the Direct Custody and Clearing division, most recently as global head of sales and relationship management.
(CG)