MUFG Investor Services adds to Securities Lending Practice
MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, has appointed Tim Smollen as Global Head of Global Securities Lending Solutions.
Smollen will be based in New York and will be joined by eight additional hires who will support the growth and development of MUFG’s securities lending franchise.
“Bringing Tim on-board to lead our expanding team reinforces our commitment to further growing this business and becoming one of the globally recognised programs in this space”
The group led by Smollen will focus on providing the highest level of client service, innovation and thought leadership by developing custom solutions to match the various needs of MUFG’s clients and other 3rd party clients, while sustaining lending performance. This is the latest push to expand and accelerate the growth of MUFG’s global securities lending program, which has been active for more than 20 years.
“Bringing Tim on-board to lead our expanding team reinforces our commitment to further growing this business and becoming one of the globally recognised programs in this space,” says John Sergides, CEO of MUFG Investor Services. “As we welcome Tim’s experience and industry expertise, we will continue to invest in leading technology to keep MUFG at the forefront of innovation in securities lending.”
Smollen joins MUFG Investor Services from Deutsche Bank, where he was Global Head of Agency Securities Lending since 2009. He had previously led the Agency Securities Lending team at Dresdner Kleinwort Wasserstein from 2002 to 2009, as well as holding various senior roles at JP Morgan Chase.
“At a time of global regulatory change, it is important for investment managers interested in securities lending to find a partner they can rely on that is capable of providing consistently high-quality service and stability. I am excited to join MUFG Investor Services as it has continuously proven its commitment to innovating with technology and investing in personnel in order to provide clients with the highest quality solutions,” says Smollen. “I am looking forward to working with the team to expand this line of business and provide clients with the solutions that meet their needs.”