Citi has launched a collateral management services unit within its securities and fund services business.
Rajen Shah joins from JPMorgan Chase as global head and Pierre Mengal joins from Standard Chartered Bank as Asia regional head.
Shah will be responsible for leading the development of a global collateral management services capability for Citi’s securities and fund services.
Mengal will be responsible for collateral-related product developments for intermediary and investor clients in Asia.
Collateral management will offer clients exposure monitoring, margin calling, collateral optimization and rehypothecation.
“Increasingly, in today’s marketplace, clients are looking to third parties to service their collateral management needs," says Neeraj Sahai (pictured), global head of securities and fund services, Citi. "With these two hires, Citi reinforces its commitment to providing clients with value-added services that help them improve efficiency and mitigate risk across the life cycle of an asset.”
Prior to joining Citi, Shah was product executive-global custody at JPMorgan Chase. During his 14 years with that firm, he held a number of executive positions, including product executive-clearance and collateral management, global head of operations-derivatives collateral management, EMEA head of operations-derivatives middle office and program manager-derivatives processing re-engineering. He began his career as a management consultant with Accenture. Shah will be located in London.
Mengal joins Citi from Standard Chartered Bank Singapore where he was global product head broker services and collateral management. Prior this, Mengal spent eight years at Lehman Brothers where he held a number of senior level positions within Treasury in London, Tokyo and Hong Kong. Mengal will be located in Singapore.