Citi Names Cheeping Yap as Head of Fund Services for Asia
Hong Kong - March 1, 2012 – Citi today announced the appointment of Cheeping Yap as Head of Fund Services for Asia ex Australia for its Securities and Fund Services (SFS) business.
In this new role, Cheeping, who will continue to be based in Hong Kong, will be responsible for growing Citi’s fund services platform for the Asia Pacific region. He will report to David Russell, Head of Securities and Fund Services Asia Pacific and to Sanjiv Sawhney, Global Head of Fund Services.
Commenting on the appointment, David Russell said, "As our clients continue to look at investment opportunities in the region, they look to Citi as key enables for their business expansion. Cheeping’s appointment underlines our focus to expand in a fast growing area of our business."
Cheeping joined Citi in Hong Kong in late 2006 as Head of Securities and Fund Services for China, based in Shanghai. In July 2009, he assumed the role as Head of SFS for Hong Kong where he was instrumental in expanding Citi’s product offerings in exchange traded funds, Hong Kong and Cayman Unit Trust services, MPFA pension fund services and RMB fund services products in Hong Kong.
Through its Securities and Fund Services business, Citi’s industry-focused experts provide institutional investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With $12.5 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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About Global Transaction Services
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2011, it held on average $368 billion in liability balances and $12.5 trillion in assets under custody.
Additional information may be found at www.citigroup.com | Twitter: @CitiGTS | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi