Citi has filled its newly created role of senior advisor to securities and fund services, part of the firm’s transaction services division, with a former Australian minister for superannuation.

Nick Sherry, will be based in Australia and will have a regional role supporting Citi’s pension fund clients in Asia Pacific.

In addition to being chair of the senate committee on superannuation, and minister for superannuation, Sherry was Australia’s first minister for superannuation and corporate law. He also has extensive knowledge of global policy developments, in particular in many Asian countries, where pension (superannuation) reform is a major focus, Citi said in a statement.

In August, this publication reported that Sherry had been appointed as chairman of FNZ Australia, a technology firm serving the wealth management industry. 

“Australia’s original and continued reform of superannuation leads the world, and Nick has played an important role in this reform,” said David Russell, regional head of Citi’s securities and fund services.

Australia’s superannuation industry is set to triple in size by 2035, according to research conducted by the Australian government’s super system review committee, released early this year.

Citi’s securities and fund services currently oversees custody and administration for A$125 billion ($129 billion) in Australian client assets, and close to $13 trillion globally.