Asia Asset Management – 11th Sep 2018
Citigroup Inc. has hired two executives to bolster its Asia Pacific Delta One division, including a chief for exchange-traded funds (ETF) trading in the region.
Antoine de Saint Vaulry has been named to the newly-created position of Asia Pacific head of Delta One ETF trading, the New York-based banking group says in a statement on September 6.
“He will focus on the growth of Citi’s ETF client trading capabilities in the region,” it says.
Mr. de Saint Vaulry, who is based in Hong Kong, reports to Sebastien Mailleux, Citigroup’s Asia Pacific head of prime finance and Delta One.
Citigroup has also appointed Pierre Thiriet, formerly of Commerzbank, to the Asia Pacific Delta One team to “focus on pricing, trading and risk management relating to our regional Delta One trading capabilities”. He reports to Mr. de Saint Vaulry.
A Citigroup spokesman tells Asia Asset Management that Mr. Thiriet , who is also based in Hong Kong, does not currently have an official job title.
“We are investing in the team as we see increased client interest in ETFs,” according to the spokesman.
In the statement, Citigroup says the new appointments support its goal to be “the sell-side platform of choice for ETFs”.
Citigroup’s Delta One division offers services that include global portfolio trading, hedge index exposure, and ETF trading platform. Delta One products are financial derivatives that have a delta of one, or very close to one, which means that a move in the price of the underlying asset will result in an identical move in the price of the derivative.
