Senior Biographies

Timothy Douglas is Managing Director and Global Head of Investment and Financing Solutions (IFS) within the Securities and Fund Services (SFS) business of Citi Transaction Services.

IFS product offering includes Securities Finance, Collateral Management, SFS Liquidity and Investments and SFS Foreign Exchange.

Mr. Douglas joined Citi Transaction Services in 2004 as Global Head of Securities Finance. Earlier, he was Head of Global Prime Broker and Finance Sales in Citigroup Global Markets (CGM). Since joining Salomon Brothers, a predecessor firm of Citi, as an analyst in Sales and Trading in 1986, he has held numerous leadership roles in his extensive career at Citi. In 1992 he launched the Emerging Markets and Credit repo trading businesses and progressed to become the co-head of the Global Finance Desk and Fixed Income prime brokerage in 1998. He added global prime brokerage sales and marketing to his responsibilities when he was named Head of Global Prime Broker and Finance Sales in 2003.

Mr. Douglas is a member of the Citi Transaction Services and SFS Management Committees. He is a graduate of Princeton University.

David is Managing Director and Global Head of Product Sales and Client Management for the Securities Finance business. In this position, David is responsible for the development, management, and sales for Citi’s securities lending program, serves as a member of Citi’s Global Securities Finance’s Management Committee

Prior to joining Citi, David was the Global Co-Head of the Dresdner Bank Agency Securities Lending business where he led the successful effort to build the largest third-party lending program in the world. Prior to joining Dresdner, David spent over five years at Deutsche Bank as Managing Director in charge of Global Asset and Liability Trading for their Securities Lending Division. Prior to the acquisition of Bankers Trust (BT), David was the Head of Securities Lending Global Markets in North America. In this role David was instrumental in establishing Deutsche Bank’s presence in North America as a provider of non-custody/third-party Securities Lending services.

After the acquisition of BT, David was instrumental in redeveloping the old BT business. As part of this redevelopment David and his trading team revamped the trading strategy and significantly increased client performance. David also was a Senior Vice President at Lehman Brothers and was the Head of Asset and Liability trading at Lehman Brother’s Trust Company.

Prior to joining Lehman, David spent 14 years at J.P. Morgan and J.P. Morgan Securities in various management roles. Related to Securities Lending, David was the Head of JP Morgan’s Securities Lending desk and was the head of US product development. At JP Morgan Securities, David was in charge of the overnight, term financing and term matched book teams for the repo desk as well as the Securities Lending sales force.

David received a Bachelor of Business Administration in marketing from Pace University.

Patrick Avitabile is the Global Head of Equity Trading for Securities Finance. In this position, he is responsible for the trading units in Australia, Tokyo, Hong Kong, London and New York. Mr. Avitabile, who has worked in the securities lending industry since 1982, began his Citi career in 1994 as the European Securities Finance Product Manager in London. Prior to joining Citi, he held management positions within securities lending at Bankers Trust Co.

Mr. Avitabile is a regular speaker at international lending conferences organized by the Risk Management Association, Global Investor incorporating, the Pan Asia Securities Lending Association, the Information Management Network and Data Explorers, among others.

He is serving his second term on the executive board of the Risk Management Association. Mr. Avitabile has led several information sessions on securities lending to members of the Office of the Comptroller of the Currency and the Federal Reserve Bank. As a recognized industry expert, he was selected to speak at the Securities and Exchange Commission’s “Roundtable on Securities Lending” in 2009.

Mr. Avitabile received his MBA from New York University, an MA from S.U.N.Y. at Stony Brook and a BA from St. John’s University.

Laurie Zeppieri joined Citi in 2005 as Head of Securities Finance Product Management for the Americas. She has more than 17 years in the financial services industry including ten years with Deutsche Bank where, among other roles, she was Business Manager and Head of Product Development in securities lending and asset management.

Ms. Zeppieri previously held positions at State Street Bank and Trust Company in Product Development and at Credit Suisse Financial Products structuring municipal derivative transactions. She began her career as an attorney at Hawkins, Delafield & Wood where she represented municipalities across the United States in municipal finance transactions.

Ms. Zeppieri received a BA degree in International Relations from the University of Pennsylvania, studied at the Institute for Economic and Political Studies in London, England and earned a JD from The Fordham University School of Law.

Lawrence Komo was named Asia Pacific Region Head of Global Custody and Securities Finance in 2008. Prior to his current position, which is based in Singapore, he spent several years at Citigroup Global Markets, including being Head of Equity Finance in London.

Before joining Citi in 2006, Mr. Komo held senior business management roles for various securities firms including Goldman Sachs and Lehman Brothers in Hong Kong and Tokyo.

In March 2008, Mr. Komo was elected Chairman of PASLA (the Pan Asia Securities Lending Association), a collective group of major industry players in Asia committed to furthering the development of the securities lending business in the region.

Mr. Komo earned his Bachelor’s degree in Economics at Yale University and an MBA from Emory University in Atlanta in the United States.

Rajen Shah was appointed Global Head of Collateral Management Services and EMEA Head of Securities Finance (i.e., securities lending, foreign exchange and cash reinvestment) at Citi in May 2010.

Mr. Shah joined Citi from J.P. Morgan, where he was the Business Executive for Global Custody, Clearance and Collateral Management, and earlier had held various positions within the firm’s investment bank, including European Head of Derivatives Middle Office and Global Head of Derivatives Collateral Management. Before joining J.P. Morgan in 1996, he was a Management Consultant at Accenture, specializing in strategic re-engineering for financial institutions.

Mr. Shah holds a BSc Honors degree in Business & Computing from City University and has completed the Executive MBA (TGMP) at Harvard Business School.

Barry Winter is North American Head of Fixed Income Trading, Cash Investments, and Trading Strategies & Analysis for Securities Finance. In all, Mr. Winter has over 30 years of experience in the fixed income markets and over 25 years in securities finance.

Prior to joining Citi in 1992, Mr. Winter spent nine years with Security Pacific National Corp., a Los Angeles-based financial services company. There he initially headed a money market sales group, and later, at the Security Pacific National Trust Company, he held a fixed income trading, cash investing and trading strategies & analysis positions in the fixed income and securities finance markets.

Mr. Winter holds a bachelor’s degree in Finance and Accounting from Lehigh University.

Gareth Mitchell is EMEA Head of Securities Finance Trading for Fixed Income, Equities and Cash Reinvestment.

Mr Mitchell joined Citibank in January 2000 from Deutsche Bank where he managed European bond lending for the custody securities lending area. Before joining Deutsche Bank, he managed the UK Stock Exchange Money Broking arm of Swiss Bank Corporation, Rowe & Pitman, a principal intermediary. In all he has over 24 years experience of securities lending and cash reinvestment markets. Throughout his career, Gareth has participated in numerous industry groups, including the Bank of England Gilt Repo Sub-Committee.