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2026

Industry Perspectives Series, where we explore the latest themes shaping financial services. Bringing you insights from thought leaders, helping you stay informed, navigate challenges, and seize opportunities.

Industry Perspectives

Transcript

In this episode of Industry Perspectives, hosts Amanda Hale and Matthew Cherrill of Citi’s Global Trustee &amp; Fiduciary Services are joined by industry experts: Viral Patel, CEO of BXPE, Michael Dryden, Partner and Global Head of Asset Based Finance &amp; FIG at Sixth Street, Daniel Pietrzak, Partner, Global Head of Private Credit for KKR, and Citi’s own Rajiv Amlani, Global Head of Private Markets coverage within Spread Products.Together they explore recent trends in global private market deal making and fund structuring and the opportunities these have afforded for unlocking capital and driving value, whether value creation differs depending on the jurisdiction in which business is being done or the asset class being invested in, as well as the next wave of private market innovation.

Amanda has over 40 years of experience in the investments industry and has been with Citi since 2008. Prior to joining Citi, Amanda worked in the CIS Policy Team at the Financial Services Authority (FSA), now the Financial Conduct Authority (FCA) after having been with HSBC for 26 years in various areas such as Trustee and Depositary Services, Custody, Settlements, Corporate Actions, and Income. Amanda currently represents Citi on external industry committees and panel discussions as well as chairing various internal Citi regulatory committees. She demonstrates an excellent understanding of the financial services’ regulatory environment.&nbsp;

Amanda Hale, Director & Head of Regulatory Services, Global Trustee & Fiduciary, Citi

Matthew has over 38 years’ experience in the collective investment schemes industry. Following 19 years at the Midland Bank Trust Company, which became HSBC Securities Services, Matthew moved to the funds policy team at the Financial Services Authority, introducing various policy initiatives and representing the UK at the Committee of European Securities Regulators (CESR). Following the transition to the Financial Conduct Authority, Matthew moved to funds authorization and advised on the establishment of the funds supervision team. Matthew has been with Citi for over 10 years, representing Citi at various external industry committees and providing our clients with valuable insights into emerging regulation.

Matthew Cherrill, Senior Regulatory Technical Analyst, Citi

Viral has been with the firm for a little over twenty years. He has held multiple roles during that time but currently leads the private equity strategy for individual investors.

Viral Patel, CEO, BXPE

Michael’s current role focuses on the asset-based finance business, across asset classes such as residential mortgages, commercial real estate debt, consumer, and commercial finance assets.

Michael Dryden, Partner, Global Head of Asset Based Finance & FIG, Sixth Street

Having worked for KKR for the last ten years, Daniel runs the private credit business.&nbsp;The role encompasses lending money to corporates such as private equity owned companies, family-owned companies, other private companies, as well as having responsibility for the private credit business, or asset-backed finance.

Daniel Pietrzak, Partner, Global Head of Private Credit, KKR

Citi’s spread products cover a combination of credit, real estate, mortgage, and asset backed securities business for both public and private side activity.

Rajiv Amlani, Global Head of Private Markets coverage within Spread Products, Citi

Private Markets – Opportunities, Structures and Value

Episode 1: Private Markets – Opportunities, Structures and Value

/rcs/citigpa/storage/public/EP1-Behind-The-Mic-Podcast-Transcript.pdf

Industry Perspectives Episode 1

In this episode of Industry Perspectives, hosts Amanda Hale and Matthew Cherrill of Citi’s Global Trustee &amp; Fiduciary Services are joined by industry experts: Viral Patel, CEO of BXPE, Michael Dryden, Partner and Global Head of Asset Based Finance &amp; FIG at Sixth Street, Daniel Pietrzak, Partner, Global Head of Private Credit for KKR, and Citi’s own Rajiv Amlani, Global Head of Private Markets coverage within Spread Products.Together they explore potential risks and opportunities in opening up alternatives to retail investors, and whether the high returns experienced in the private equity space are now behind us.

Private Markets – Retail, Returns, and Key Messages

Episode 2: Private Markets – Retail, Returns, and Key Messages

/rcs/citigpa/storage/public/EP2-Industry-Perspectives-Podcast-Transcript.pdf

Industry Perspectives Episode 2

In continuing our Industry Perspectives podcast series, hosts Amanda Hale and Andrew Newson of Citi’s Global Trustee &amp; Fiduciary Services are joined by Citi colleagues Rob Rowe, Interim Head of Research and Nathan Sheets, Global Chief Economist.We now turn to the topic of growth. In this, our latest episode, we begin by looking at how resilient the global economy is despite challenges such as the Russia-Ukraine War, inflation, rapid rise of central bank rates, US tariffs and more recently the war in Iran. We also look at current geopolitical and macroeconomic effects and how these may be shaping growth in both the short and long-term.

Amanda has over 40 years of experience in the investments industry and has been with Citi since 2008. Prior to joining Citi, Amanda worked in the CIS Policy Team at the Financial Services Authority (FSA), now the Financial Conduct Authority (FCA) after having been with HSBC for 26 years in various areas such as Trustee and Depositary Services, Custody, Settlements, Corporate Actions and Income. Amanda currently represents Citi on external industry committees and panel discussions as well as chairing various internal Citi regulatory committees. She demonstrates an excellent understanding of the financial services’ regulatory environment.&nbsp;

Andrew has 27 years’ experience working in financial services. Joining Citi in 1999, Andrew worked as a Valuations Officer in the Citibank Private Bank before moving to Switzerland to become a Fund Management Support Manager in Zurich, where he managed a small team. On his return to London, Andrew joined Citibank Global Asset Management as Manager of the Fiduciary department, leading a team conducting post-trade compliance monitoring of private bank portfolios, institutional and sovereign wealth mandates, and Luxembourg Mutual Funds.&nbsp; In 2006, Andrew stepped into the funds business as a Fiduciary Relationship Manager, entrusted with managing key client relationships spanning both UK authorised and unauthorised fund structures. Since 2014, Andrew has been a driving force within Citi's Regulatory Services team, where he plays a pivotal role in preparing and delivering high-impact regulatory updates to clients, translating complex regulatory change into clear, actionable insight. Andrew has also represented Citi as its Technical representative at the UK Depositary Association.

Andrew Newson, Senior Regulatory Technical Analyst, Citi

Rob Rowe is the Global Head of Citi Research’s Global Strategy &amp; Macro Group (GSMG) as well as Head of Research for the Americas. GSMG unites all of Citi’s Economists with Fixed Income, FX, Equity and Commodities strategists to create a common team providing research on the world’s major economies and asset classes. Rob has been with Citi for well over 30-years serving in various capacities within markets and research. He originally joined Smith Barney Harris Upham &amp; Company in 1989 working in Investment Banking, Fixed Income sales and Research. He has worked in the past as a rates and agency debt strategist and continues to provide portfolio strategy for select clients as part of his previous role overseeing the Global Bond Portfolio Analysis team. He has written numerous articles and publications on fixed income and portfolio strategy.

Rob Rowe, Interim Head of Research, Citi

Nathan Sheets, Ph.D., is Global Chief Economist at Citi Research. In this role, Nathan leads Citi’s surveillance and forecasting of the global economy and directs the analysis of the firm’s economics team. He interacts closely with Citi’s major institutional clients and internal risk takers and publishes research on cross-cutting themes shaping the global economy and financial markets.Most recently, Nathan was Chief Economist and a member of the senior investment team at PGIM Fixed Income. He also has served as Under Secretary of the U.S. Treasury for International Affairs, representing the U.S. government on international economic issues. Previously, he held positions with Citigroup, as Global Head of International Economics, and with the Federal Reserve Board, as Director of the Division of International Finance and FOMC Economist. In addition, Nathan was a senior advisor to the U.S. Executive Director of the International Monetary Fund and a visiting fellow at the Peterson Institute for International Economics. He joined Citi in October 2021.

Nathan Sheets, Global Chief Economist, Citi

GROWTH: Conflicts, Supply Chains and Resilience

Episode 3: GROWTH – Conflicts, Supply Chains and Resilience

 /rcs/citigpa/storage/public/EP3-Industry-Perspectives-Podcast-Transcript.pdf

Industry Perspectives Episode 3

In continuing our Industry Perspectives podcast series, we remain focused on the topic of growth. We are joined again by Citi industry experts Rob Rowe and Nathan Sheets in discussing the recent performance of the global economy, looking at the real- world consequences for businesses, nations, and individuals.Our latest episode of the Industry Perspectives podcast series examines key questions shaping the AI growth debate: how AI will affect growth and inflation, whether its effects will be concentrated in AI-producing nations or felt more broadly, how the adoption cycle may unfold, and its impact on the evolution of the job market. It also considers what challenges could stand in the way of continued AI-driven growth.

Andrew has 27 years’ experience working in financial services. Joining Citi in 1999, Andrew worked as a Valuations Officer in the Citibank Private Bank before moving to Switzerland to become a Fund Management Support Manager in Zurich, where he managed a small team. On his return to London, Andrew joined Citibank Global Asset Management as Manager of the Fiduciary department, leading a team conducting post-trade compliance monitoring of private bank portfolios, institutional and sovereign wealth mandates, and Luxembourg Mutual Funds.&nbsp;In 2006, Andrew stepped into the funds business as a Fiduciary Relationship Manager, entrusted with managing key client relationships spanning both UK authorised and unauthorised fund structures. Since 2014, Andrew has been a driving force within Citi's Regulatory Services team, where he plays a pivotal role in preparing and delivering high-impact regulatory updates to clients, translating complex regulatory change into clear, actionable insight. Andrew has also represented Citi as its Technical representative at the UK Depositary Association.

GROWTH: AI, Innovation and Power Demand

Episode 4: GROWTH – AI, Innovation and Power Demand

/rcs/citigpa/storage/public/citi-services-EP4-Industry-Perspectives-Podcast-Transcript.pdf

Industry Perspectives Episode 4

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