Tim Smollen was named global head of global securities lending solutions at MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, a spokesman said.
The position is new. Mr. Smollen will be based in New York and oversee a team of eight that will develop custom strategies for MUFG's clients and build out the firm's global securities-lending business. He will report to Dan McNamara, chief strategy officer at MUFG Investor Services.
Mr. Smollen was global head of agency securities lending at Deutsche Bank. It could not be learned whether he was replaced. Deutsche Bank spokesman Frank Hartmann declined to comment on the departure.
MUFG Investor Services has more than $580 billion in assets under administration.
