Citigroup has created a global ETF servicing team in the US to provide support for fund development, liquidity analysis, transactional services and distribution.
The firm has appointed Jeffrey McCarthy as global ETF product head in its Securities and Fund Services business to bolster Citi's presence in the ETF services industry globally.
McCarthy will be responsible for product innovation and market development and will coordinate end-to-end servicing solutions across trading, distribution and administration for these funds.
He will report to Chandresh Iyer, head of global custody and investment administration services. McCarthy will have support from Simon Fellows in Asia Pacific, Erick Carvalho in Latin America and Bernard Hanratty in Europe.
Prior to joining Citi, McCarthy was global ETF product manager at Brown Brothers Harriman.
Citi global head of securities and fund services Neeraj Sahai says: "With its global network and reach, Citi is uniquely positioned to help promote ETF product innovation and distribution in domestic and international markets."
The new service also provides product development assistance, pre-launch coordination, global servicing platforms and distribution solutions, including cross-listing models.
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