Products October 25, 2007

Dreyfus Joins DTCC’s Managed Accounts Service

Dreyfus Investments has joined DTCC's Managed Accounts Service (MAS), a centralized platform for the industry, designed to streamline communications associated with opening and maintaining managed accounts.
Reported by

At present, seven investment manager firms are working in the DTCC’s test environment, along with four outsourcers and nine vendors.

Dreyfus is the industry’s 14th largest provider of managed accounts, according to a press release.

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Deals & People October 25, 2007

Citi Names New CIO for Wealth Management Unit

Citigroup Inc. has tapped Jeffrey Applegate to be chief investment officer of its Citi Global Wealth Management unit.
Reported by

Applegate will oversee investment strategy for the unit, which comprises the Citi Smith Barney brokerage, Citi Private Bank, and Citi Investment Research. He will report to Sallie Krawcheck, chief executive of wealth management.

He joins the firm from Franklin Resources Inc.’s Franklin Templeton unit, where he was chief investment officer for global equity, fixed income, real estate, and alternative investments. Applegate was also previously chief investment strategist for Credit Suisse First Boston and Lehman Brothers.

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