Following its corporate shake-up in September, Citi’s business units are now undergoing significant change. Under the continued leadership of Okan Pekin, the securities services business has already made some initial moves, with a number of senior management changes that align the unit with the corporate direction and structure. Some notable changes include: a new global head of custody, Amit Agarwal, who was previously in the treasury and trade solutions business; Matthew Bax, who moves from that role to become global head of client coverage (replacing Sanjiv Sawhney, who has joined Waystone as CEO); and Mike Hughes, who steps up to run global fund services from his current role as global head of custody product development. Fund services previously had co-heads – Dominic Crowe and Pervaiz Panjwani – with Crowe retiring and Panjwani moving to a new role within securities services. David Russell, long-serving head of APAC securities services, is also retiring.
