Citi Securities Services’ business has appointed Chris Morin as global head of middle office and performance within its fund services business.
Based in Boston, Citi said the firm’s middle office and performance business lines are two key products offered to asset managers and asset owners, and also that Morin will focus on developing new products powered by data-driven capabilities.
Morin was most recently head of middle office product for the Americas and global head of complex assets at JP Morgan and prior to that he was a senior vice president at asset manager Pimco for eight years working in investment operations and acting as global head of accounting. At Citi, he reports to Mike Hughes, Citi’s head of fund services.
Citi recently announced an ambition to capture market share with asset managers as it drives growth in securities services, which includes deepening its capabilities and data services for global asset managers, asset owners and insurers.
In addition to capturing the demand for increased outsourcing by asset managers, the fund services business is also gaining market share in the global market for ETFs, the firm said, having grown its ETFs assets under administration by US$425 billion from 2021 to 2023.
Demand for middle office outsourcing continues to rise, Citi said, as asset managers looked to drive performance and operating efficiency by outsourcing their non-core operations.
