Global custodian Citi has appointed Mike Hughes as global head of custody product development.

Based in London, he will report to Matthew Bax, global head of custody.

Hughes has spent more than 20 years in the asset servicing industry, the majority of which was spent at Deutsche Bank, where he held a number of senior roles, including global head of fund services and also head of alternative fund services for EMEA and Asia.

Hughes was also at JP Morgan, where he headed up the bank’s global custody offering.

He was most recently global head of services lines at independent fund administrator Ocorian.

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