Tim Smollen starts at MUFG 08 January 2020New York Reporter: Maddie Saghir
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Tim Smollen, former global head of agency lending at Deutsche Bank, has begun his new role with Mitsubishi UFJ Financial Group's (MUFG) investor services division to build out its securities finance business.
Smollen has today assumed the new role of global head, global securities lending solutions, based in New York.
The hire comes as part of a wider strategy to grow the Japanese banking group’s global presence in the market.
Discussing his transition, Smollen wrote in a social media post that from his 14 years with Deutsche Bank he found that it “fostered a spirit of entrepreneurship and cross-business teamwork that is rare in most large financial institutions”.
“In MUFG I see that same entrepreneurial spirit and a long term commitment to the investor services suite of businesses and I look forward to working for and with a management team whose vision and leadership is inspiring,” he added.
It is understood that Smollen is joined at MUFG by fellow Deutsche Bank alumni Jay Schreyer and Anthony Toscano.
Schreyer previously served as head of agency lending for Europe, the Middle East and Africa, and Asia Pacific at Deutsche Bank, while Toscano was co-head of agency lending for North America.
Further information on MUFG’s plans for its securities lending division is expected later this week.
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