SWITZERLAND - Philippe Kuttler, a top official of the Swiss Social Security Pension Fund AHV, has joined Citigroup Asset Management to lead business development in the Swiss market.

Kuttler was head of investment management of the compensation fund in Geneva.

At Citigroup, which he joined on September 1, he has taken up the new position of vice president responsible for management and development of Citigroup Asset Management's Swiss client base.

Based in London, Kuttler reports to Paul Timlin, regional sales director for continental Europe.

"We believe Swiss investors are increasingly seeking the specialist bond and equity solutions that Citigroup Asset Management is well known for. Philippe has the skills and experience to help us deliver these solutions to investors," Timlin said.

Timlin said Citigroup would continue to expand in “key markets” and added the firm was looking for a business development professional for the German market.

Citigroup AM currently manages over 575 million dollars (322.4 million euros) for Swiss investors and as at the end of June the group had 491 billion dollars of assets under management.

The Swiss Social Security Pension Fund was not available for comment.

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