Citi’s custody business has lured JP Morgan’s lead relationship manager among superannuation funds to become its new head of product as it builds its presence in the Australian market.

Enzo Cotroneo, who until recently led a team of superannuation fund relationship managers at JP Morgan Worldwide Securities Services (JP Morgan WSS), has signed to become Citi’s head of product for Australia and New Zealand from September, confirmed head of investor sales David Edwards.

Edwards said Cotroneo’s experience in the super fund marketplace, developed over a 14-year tenure at JP Morgan WSS, should strengthen the custodian’s end-to-end offering to domestic institutions.

“He will be making sure we have everything we possibly need to bring into this market,” Edwards said.

This would involve sourcing particular capabilities from Citi’s securities services offerings in overseas markets which could meet Australian investors’ needs.

Before focusing on super fund relationships at JP Morgan, Cotreono worked on performance reporting for super fund clients and unit pricing for member investment choice options.

He worked closely with Edwards, who held a sales role at JP Morgan before joining Citi last year.

Cotroneo resigned from JP Morgan WSS last week. Bryan Gray, head of sales and marketing at the custodian, told I&T News he had not yet decided whether to restructure the team or search for a direct replacement.

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