LJ Jhangiani moves from BMO to MUTB amidst agency lending deal
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LJ Jhangiani moves from BMO to MUTB amidst agency lending deal 28 April 2021US Reporter: Alex Pugh
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LJ Jhangiani has joined banking conglomerate Mitsubishi UFJ Trust and Banking Corporation’s (MUTB) securities lending team from Bank of Montreal (BMO).
Earlier this month, MUTB inked a deal with BMO to take on its entire book of clients under its agency securities lending programme in a move designed to significantly enhance its North American footprint.
Most of BMO’s securities lending team were not expected to be taken on by MUTB, but Jhangiani has made the cut.
The role, based in Chicago, will see Jhangiani head up the firm’s securities lending automated processing division, where, according to Jhangiani, he will “help bring the MUTB platform to a whole new level focusing on areas such as automation, data analytics and artificial intelligence”.
Jhangiani joined BMO in 2013 and most recently served as head of securities lending trading, managing assets worth $12 billion in securities lending, repo, and short-term cash/liquidity portfolios for multiple clients across all lendable asset classes.
Prior to BMO, Jhangiani worked at Allstate Investments in Northbrook, Illinois from 2005, where he co-managed over $10 billion internal short-term cash/securities lending/government portfolios.
At MUTB, Jhangiani will be working for Tom Ryan, who joined the firm earlier this month from Deutsche Bank, as head of asset and liability management for the Americas and head of trading.
Announcing his new role on LinkedIn, Jhangiani says: “I will be working ... in a very unique role on the trading desk where I will be able to combine my passions for both trading and technology.”
MUTB head of Global Securities Lending Solutions in the Americas Anthony Toscano says: “As we continue to build out our team, I was especially pleased to be able to add LJ to the team.
“His vast product knowledge will add value to the business across trading, relationship management/sales and business development.
“Specifically, I have tasked him to help drive our trading technology agenda which includes the use of full automation, extensive application of data analytics and artificial intelligence.”
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