Citi names Stewart Aldcroft CEO of CitiTrust

According to a release, Citi has appointed Stewart Aldcroft as Chief Executive Officer of CitiTrust Limited (CitiTrust). In this role, Stewart will be responsible for managing and developing the CitiTrust business in Hong Kong.

CitiTrust is the provider of trustee services to a number of Mandatory Provident Fund (MPF) constituent funds, Approved Pooled Investment Funds (APIF) and SFC unit trusts in Hong Kong. He will lead the team to develop new initiatives, and grow its client base and reach across the Asia Pacific region. Stewart will report to David Russell, Regional Head for Securities and Fund Services Asia Pacific.

“Stewart is a seasoned professional with over 30 years of experience in the asset management industry, mostly in Asia. With the growth opportunities in the investment funds industry between China and Hong Kong, Stewart’s expertise will lead the CitiTrust team in identifying sound opportunities and meeting the increasing demand for trustee services among global fund management companies in Hong Kong. He will continue to provide support, advice and guidance to our clients in the region,” said David Russell.

Stewart joined Citi in August 2011 and brings with him a wealth of experience from previous senior business development and leadership roles in managing traditional mutual funds, hedge and alternative investment funds, structured products and Exchange Traded Funds. A veteran with deep knowledge in the Asia Pacific funds industry, Stewart has been based in Hong Kong since 1985. He has previously served on the Executive Committee of the Hong Kong Investment Funds Association and AIMA (HK Branch).

Citi’s Securities and Fund Services business serves issuers, investors and intermediaries worldwide through global platforms that feature modular, open architecture. With $13.5 trillion of assets under custody, Citi has the largest industry proprietary network in 62 markets, with direct custody offering in 17 markets across Asia Pacific.