Citigroup lands agency and trust staff

The bank's GTS unit boosts regional agency and trust team by hiring from former JPMorgan pool.
Citigroup Global Transaction Services (GTS) has added four new members to its regional agency and trust product team, all of whom come to the bank from JPMorgan. All four will fill newly created roles and will be charged with further expanding Citigroup's Asia-Pacific agency and trust franchise.

Ben Lumley-Smith joins Citi GTS as Asia-Pacific business head of agency and trust in Hong Kong. He will split his reporting lines between Jeffrey Volk, managing director and global head of CitigroupÆs agency and trust business, and Margaret Dawson, managing director and Asia-Pacific regional head of securities and fund services.

At JPMorgan, Lumley-Smith was a senior vice president and Asia business manager for corporate trust, most recently as Asia business head for global debt. He was based in Hong Kong in this role. While at JPMorgan, he also spent five years covering its Japanese securitisation market from Tokyo for Chase Trust Bank and three years covering corporate trust sales in India, Australia and Japan. Prior to this he worked for Barclays Bank and Hambros in commercial banking.

Also joining from JPMorgan is Jane Dulson who comes on board as head of transaction management with responsibility for CitiÆs transaction management team regionally. She also reports to Lumley-Smith. At JPMorgan, Dulson was vice president and manager of the Asia Trust CompanyÆs transaction management and client services team, within its Hong Kong corporate trust division. She has also worked for Barclays in Hong Kong and Chemical Bank and Chase Manhattan Bank in the UK in the securities operations space.

Also reporting to Lumley-Smith is Susan Spear, who joins Citi as senior transaction manager. At JPMorgan, she held a similar role in its corporate trust team, including eight years spent in transaction management in Hong Kong. Prior to working at JPMorgan, Spear worked for Goldman Sachs in the UK, in the middle office government bonds area.

The final addition to CitiÆs expanding agency and trust team is William Cheung, who crosses from JPMorgan as a fiduciary product manager. He was previously a senior risk manager at JPMorgan where he spent the last 12 years in a variety of roles including compliance, client management for banks and financial services companies in Greater China, and credit analysis. He also brings experience from The Mitsubishi Bank, Hong Kong and reports to Lumley-Smith.

The four new members complement CitiÆs existing product and sales teams for agency and trust in Asia-Pacific in Hong Kong and Singapore. The shift from JPMorgan follows that bank's sale of its global trust business to The Bank of New York.
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