Citigroup has hired Matt Newnham to the asset manager relationship team for Citi Wealth, as the bank continues to ramp up its wealth management efforts.
London-based Newnham joined Citi on July 6 and is serving as the managing director responsible for leading asset manager partnerships across Europe, the Middle East, Africa, and the U.K. Newnham’s hiring was announced in an internal memo sent out by Christine Curtiss, Citigroup’s global head of asset manager relationships
The memo, which was seen by InvestmentNews, was confirmed by a Citi spokesperson.
Newnham is a global fund distribution veteran who spent 10 years at Citi earlier in his career, working in Luxembourg, Hong Kong, and Sydney. Prior to leaving the company in 2014, he served as EMEA Transfer Agency product head, according to his LinkedIn.
After his first stint at Citi, he spent just over 9 years at MFEX Mutual Funds Exchange, where he worked as managing director for UK and Ireland, and as chief product officer. Newnham then served as chief commercial officer for Euroclear's Funds business.
“I am delighted that Matt has decided to return to Citi to drive our asset manager partnership efforts in Europe, Middle East & Africa and the UK,” said Curtiss, in the memo. “These markets are a critical part of our offering to clients globally and are home to important asset management players that can help us differentiate our offering to Citi Wealth clients.”
“Matt will be responsible for ensuring we remain deeply engaged with asset managers across the region and that we are working collaboratively with them to provide the leading solutions and investment opportunities that align with our clients' goals,” she added.
Citi has been ramping up its wealth business - on this side of the Atlantic, Citi recently appointed Michael Yannell as head of hedge funds for Investment Solutions.
Earlier this year the company forged a deal with wealthtech specialist Advyzon to build a unified account structure for clients across much of the globe.
When it reported its fiscal third-quarter results in April, Citi enjoyed its best total revenue quarter in a decade. Wealth revenue grew 11% year over year, driven by growth in the Citigold wealth management service, as well as retail banking and the company’s private bank.
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