Citco Group targets collateral management growth 12 February 2020London Reporter: Becky Bellamy
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Citco Group, a financial services provider to the buy side, has revealed a senior hire from Hazeltree Financial Services, along with plans for a new collateral management platform.
Ryan Fitzgerald, based in New York, joined the group as head of middle office solutions last year after serving for more than six years as a managing director of Hazeltree's collateral systems.
Citco’s middle office solutions aim to provide trade matching, confirmation and settlement, collateral management, three-way reconciliation, treasury and payments services to pension funds, insurance funds and hedge funds, among other buy-side participants.
Commenting on his appointment, Fitzgerald says: “I am delighted to be leading a business that provides superior solutions that are scalable and cost-effective, providing fast and accurate data, and removing the burden of complex treasury and collateral processing.”
The appointment is part of a strategic investment by Citco, aimed at providing differentiated, customised solutions based on proprietary technology innovation, to a wide range of clients, according to the group.
As part of its investment in its middle office solutions, Citco will also be introducing a proprietary collateral management platform, as well as making enhancements to its existing Æxeo Treasury platform and further expanding its suite of services.
A spokesperson for Citco was unable to provide further details on what the new collateral management platform offer at this time.
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