The move will allow Citi's asset manager and owner clients to analyse the sustainability exposure of their holdings at the portfolio and security level.
The partnership with FinTech firm Sharegain aims to open the securities lending market up to wealth managers through a new digital offering.
The hire is the latest move by BNY Mellon as it looks to advance its global custody product to cater for evolving operating models and new products.
The mandate advances Citi’s objective to evolve its securities services operating model and capabilities to cater for digitised products.
Former JP Morgan and RBC client strategy executive takes on new role for Citi in APAC.
Citi’s services will also include portfolio composition file (PCF) creation and the use of its proprietary Advanced Citi ETF System (ACES) platform.
Local sub-custody providers have faced a challenging environment amid growing competition from global custody banks and increased regulatory costs.
A bounce in market valuations on the back of improved market returns and ongoing client confidence helped fuel the increase in AuC in Australia.
The hire is the second former State Street executive to join Citi’s securities services sales team after it a recruited new head of APAC sales this week.