UK – Francis Fernandes, the former Lane Clark & Peacock partner who joined ABN Amro two years ago, has now quit to join Citigroup’s pensions advisory group in London.

Fernandes joined the Dutch bank in 2004 as actuarial chief of its Life & Pensions Advisory group. Before this, he was head of pensions research at actuarial consulting firm LCP.

Citigroup has appointed Fernandes to the role of asset liability management advisory group director. According to a Citigroup spokesperson, this is a new position. He will be joined by his colleague Matthew Bale.

“We are delighted to announce these two key appointments,” said capital markets products chief Valentin Ehmer.

“Managing pension liabilities and finding solutions is becoming a pressing issue for our clients.”

Citigroup’s pensions advisory group comprises of three professionals with associated support staff. It is part of the fixed income capital markets group in Citigroup’s corporate and investment bank.

The spokesperson stated that Fernandes along with the new fixed income capital markets managing director and pensions advisory group MD John Nestor and will take responsibility for the group. Both answer to Ehmer.

Nestor was formerly business head of Citigroup Asset Management in EMEA. As fixed income capital markets MD, he focuses on, amongst others, pensions, and asset and liability solutions for European customers.

In other news, DCE Consultants director Erwin Reyes will join Citigroup as managing director and Global Transaction Services head for the Netherlands from May 15. This is a new role.

He will be responsible for building on “the tremendous momentum we have had in this market since the successful integration of the ABN AMRO acquisition and our investment in our Amsterdam office and Breda operation,” said a Citigroup spokesperson.