Citigroup has hired Jeff Williams as its new regional product manager for direct custody and clearing. Williams will be based in Sydney and cover the Asia Pacific, including Japan.

Reporting to the regional head of direct custody and clearing, Michael Sleightholme, Williams will focus primarily on product development and strategy, including the build up of Citigroup's asset servicing capability, transactional foreign exchange, and funding/liquidity solutions.

Citigroup says it offers direct custody services in 15 Asian markets and has 550 staff dedicated to the service. The division is part of the global transaction services business.

Commenting on the appointment, Sleightholme says: "Jeff brings with him a wealth of experience and will provide a global custodian perspective to the direct custody product management team."

Prior to joining Citigroup, Williams held various senior positions in operations and business management at State Street, based in Sydney and Boston.