The growth of the custody and fund services (CFS) business has been a core focus for Citi globally, something which Pervaiz Panjwani has played a big part for. During 2017 the business saw double-digit growth, and for the EMEA region it made eight significant hires to further accelerate the unit.
Panjwani has been one of Citi’s most tenured securities services veterans, having worked for over 27 years and in five countries for the bank. He was a country manager for Luxembourg and head of investor services for the country, and has been able to combine a European perspective to the UK market in his current role.
In 2017 he oversaw a number of key appointments across the European business for roles in product development, sales, ETFs and data.
The crowning achievement for Panjwani – and for the bank – was the launch of Citi Velocity Clarity, a big data online platform that consolidates all of the businesses’ data with client data and third-party client data via its private cloud.
Furthermore he has helped spearhead the development of a new fund administration business in Europe for ETFs, and developed a new online thought leadership platform.
Panjwani highlighted one of his main targets for 2018 is to attain a 100% retention rate on custody and fund mandates, as well as leveraging Citi’s direct custody and clearing business with the CFS unit.