UK - Citi has appointment Satvinder Singh as head of direct custody and clearing and intermediaries in EMEA.
Singh will report to Naveed Sultan, head of global transaction services EMEA, and Andrew Gelb, global head of direct custody and clearing, GTS.
Sultan said: "Singh has an established track record of growing a direct custody and clearing franchise with extensive senior relationships within this global client-base."
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Two consultancies have reported decreases in defined benefit (DB) transfer quotation requests in Q3, and said guaranteed minimum pension (GMP) equalisation could impact transfer activity.
The Association of Consulting Actuaries (ACA) and Royal London have proposed a "pensions pound" to "radically simplify" defined benefit (DB) pensions rights.