Citi has appointed a new product head for fund services, as it transitions clients from the Royal Bank of Canada.
Justin Burman has taken the role, after being a director for fund services product at Citi since March. Mr Burman was previously a director at RBC investor and treasury services and head of product at BNP Paribas Securities Services.
His new appointment has come as Citi has transitioned clients from Royal Bank of Canada, as part of a client transfer agreement finalised in March.
Citi Australia head of securities services Martin Carpenter commented Mr Burman’s appointment will help the company form the right management structure to support the expanded client base.
“Australia is a key market for the securities services business, and we have been growing at a rapid rate in 2020, both in terms of gaining new clients and building out our local team to deliver on our industry leading platforms, proprietary custody network and excellent client servicing,” Mr Carpenter said.
“We have successfully transitioned a significant portion of the RBC client base despite the challenges of this year’s global pandemic.”
Mr Burman is reported to have more than 25 years’ experience in financial services.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
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