Citigroup Global Transaction Services Appoints New Global Sales and Product Heads for Fund Management Sector
11 June 2003, New York -- Citigroup® Global Transaction Services today announced two new senior sales and product appointments that reflect the company's strategic focus on meeting the custody and fund administration needs of global fund managers worldwide.
Jervis Smith has been named Global Sales Head of Managed Funds and Pension Funds. Prior to his appointment Smith, who joined Citigroup in 1994, held senior sales and relationship management positions exclusively focused on fund and asset management clients. He has more than 20 years of international banking experience, including with Financial and General Bank PLC and National Westminster Bank, and is a well-known industry expert and frequent speaker on fund management issues.
"Jervis' experience with and knowledge of the world's leading fund managers makes him the ideal choice to lead our sales and relationship management efforts with this important industry sector," said Sandy Jaffee, head of the Financial Institutions sales division of Citigroup Global Transaction Services.
Mary Ambrecht has been named Global Product Head of Managed Funds and Pension Funds. Prior to her appointment, Ambrecht served as Chief of Staff to Frank Bisignano, Chief Executive Officer of Citigroup Global Transaction Services. She has more than 20 years of broad-based global markets operations experience, including with Smith Barney, Lehman Brothers and Chase Manhattan Bank.
"Having led operational divisions and cross-functional initiatives for much of her career, Mary fully understands the increasingly complex product and service requirements of our clients," said Steve Bernstein, head of the Securities Services division of Citigroup Global Transaction Services.
Citigroup said the new appointments enhance its ability to integrate product and sales initiatives for its global fund manager clients and reinforce its significant and growing presence in the fund management sector. Citigroup currently has more than $5.3 trillion in assets under custody.
About Citigroup Global Transaction
Services
Citigroup® Global Transaction Services is a leading
provider of integrated cash management, trade finance and securities
services for corporations, financial institutions, intermediaries
and governments around the world. With over $ 85 billion in average
liability balances, more than $5.3 trillion in assets under custody
and the largest proprietary branch network, Citigroup's award-winning
operating systems and Internet-based delivery channels enable clients
to manage and monitor working capital and investments more efficiently,
streamline transaction processing cycles, and re-engineer receivables
and payment processes. Citigroup® Global Transaction
Services provides clients with access to Citigroup's full range
of capabilities and solutions along with an on-the-ground presence
and in-depth knowledge of more than 90 local markets. For additional
information, see www.transactionservices.citigroup.com.
About Citigroup
Citigroup (NYSE: C), the preeminent global financial services company
with some 200 million customer accounts in more than 100 countries,
provides consumers, corporations, governments and institutions with
a broad range of financial products and services, including consumer
banking and credit, corporate and investment banking, insurance,
securities brokerage, and asset management. Major brand names under
Citigroup's trademark red umbrella include Citibank, CitiFinancial,
Primerica, Smith Barney, Banamex, and Travelers Life and Annuity.
Additional information may be found at:
www.citigroup.com.
