Citisoft, a London-based consulting firm specializing in investment management services, has appointed David Emsley head of its new retail consultancy unit. Emsley, who previously worked as a retail investment management executive at the Bank of New York, is expected to lead Citisoft's charge into the retail sector.
Specifically, Emsley will attempt to meet the transfer agency demands of Citisoft's customers. Due to growth in mutual funds, Citisoft has seen its requests for transfer agency services grow significantly. Transfer agents, essentially, manage mutual funds for retail clients-guaranteeing that company information is distributed to shareholders, and making sure that records and certificates are handled properly.
Prior to joining Citisoft, Emsley headed up a 25-man team at BONY. That team was responsible for delivering the bank's transfer agency system-Rufus-to blue-chip clients. Emsley, a 15-year veteran of the retail investment management industry, has also held system implementation and unit trust accounting jobs at Framlington Unit Trust Managers, Gartmore and Barclays Unicorn.