US global bank, Citigroup Inc., has appointed Thomas Treadwell to grow the firm’s prime finance derivatives clearing team in Asia, reportedPARA_BREAK_SENTINEL_9f8e7d6c

US global bank, Citigroup Inc., has appointed Thomas Treadwell to grow the firm’s prime finance derivatives clearing team in Asia, reported Bloomberg News this week when speaking to Hannah Goodwin, Citigroup’s head of prime finance, APAC. Treadwell joins from Barclays Plc where he headed up its prime services division in Singapore. Treadwell’s appointment comes at a time when fears of counterparty risk in the vast OTC derivatives market has prompted industry regulators to establish new global rules, making it easier to route contracts through central clearing houses and improve transparency. On Dec 10^th this year, the Hong Kong Monetary Authority confirmed that it would be developing a central registry for OTC derivatives. It is believed that one of Treadwell’s initial areas of focus will include establishing clearing arrangements with regional exchanges and introducing US and European derivatives products to Citigroup’s Asia-based clients. Also joining Citigroup as head of capital introductions, APAC, is Martin Visairas who held a similar role at BAML before joining Old Mutual Asset Managers Holdings UK Ltd in London. “Capital introductions demand a dedicated head as investors start to look at bring (sic) money back to Asia,” Goodwin told Bloomberg.