Citi is stepping up efforts to grow its trust business in Hong Kong with the appointment of a new chief executive for CitiTrust.

Stewart Aldcroft assumes the role of chief executive to lead the CitiTrust team in developing new initiatives and growing its client base in Asia-Pacific. He reports to David Russell, regional head for securities and fund services Asia-Pacific.

CitiTrust provides trustee services to a number of mandatory provident fund constituent funds, approved pooled investment funds and SFC unit trusts in Hong Kong. 

Aldcroft joined Citi in August 2011 and has over 30 years of industry experience, particularly in Asian asset management affairs. He also previously served on the executive committee of the Hong Kong Investment Funsd Association and AIMA (Hong Kong).