As part of an effort to spur its managed account business, Citigroup Asset Management has named James Waller director of managed accounts for the private portfolio group and third-party distribution, the company announced today.

Waller is a co-founder and former president of the Wrap Industry Association, the predecessor of the Money Management Institute, the managed account trade organization. Most recently, Waller served as senior vice president of CheckFree Investment Services, formerly Security APL, where he helped grow the company’s institutional money management and brokerage consulting businesses.

Waller will be primarily responsible for increasing Citigroup’s managed account business through both domestic and foreign third-party distributors, according to the company. He will also be responsible for increasing the efficiency Citigroup’s managed account business with regard to technology and operations.

Citigroup has over $60 billion in managed account assets, according to the company.

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