Citi’s global transaction services has appointed David Martocci as managing director and global product manager of third-party securities lending and business development within its securities and fund services unit.
Third party lending programmes provide a full-range of securities lending service for clients who have a custody relationship with another institution.
Martocci will be responsible for the development, management and sales for Citi’s third-party securities lending programme, and will serve as a member of Citi’s global securities finance’s management committee.
He will work closely with Richard Ernesti, global head of investor sales, to drive the sales initiatives for the business.
"Dave brings an exceptionally strong background in securities lending and the experience of a seasoned financial services professional to our operations," says Tim Douglas, managing director and global head of Citi’s global securities lending. "Having Dave on board will help us compete more aggressively in the long established and rapidly expanding third-party lending segment of our business."
Martocci is a veteran of over 25 years in securities lending and institutional financial services, including serving as the global co-head for Dresdner Bank’s securities lending business.
Prior to joining Dresdner, he spent over five years at Deutsche Bank as managing director in charge of global asset and liability trading for their securities lending division, establishing a presence in North America as a provider of non-custody securities lending services.
He also was the head of asset and liability trading at Lehman Brothers.
