Citi has created a new collateral management services unit within its securities and fund services business. Rajen Shah joins from JP Morgan Chase as global head and Pierre Mengal joins from Standard Chartered Bank as Asia regional head.
In his new position, 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.
Prior to joining Citi, Shah was product executive – global custody at JP Morgan Chase. During his 14 years with the firm, he held a number of executive positions, including product executive – clearance and collateral management; global head of operations – derivatives collateral management; Europe, Middle East and Africa (EMEA) head of operations – derivatives middle office; and programme manager – derivatives processing re-engineering. He began his career as a management consultant with Accenture. Shah will be based in London.
Mengal joins Citi from Standard Chartered Bank Singapore, where he was global product head broker services and collateral management. Prior to 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 based in Singapore.