CSC hires Citi’s John Cuciti for reinsurance trust business expansion
CSC, a provider of global business administration and compliance solutions, has announced the hiring of former Citi executive John Cuciti as a Senior Product and Relationship Manager for Delaware Trust Company, with a remit to help expand its escrow, project finance and reinsurance trust business.
Cuciti had worked at Citi for the last 19 years, most recently as a Director and Product Manager in the Citi Agency & Trust division.
In that role, Cuciti oversaw certain escrow, reinsurance trust, loan agency, project finance, M&A and SPAC activities.
On the reinsurance trust side, that included Citi Agency & Trust’s activities in the insurance-linked securities (ILS) space, as a provider of trust banking for the collateral needs of catastrophe bonds, collateralized reinsurance and other ILS arrangements.
Reinsurance trust accounts are used to house collateral from ILS transactions, to hold and protect the ILS-related assets for the benefits of cedents and investors.
In his new role, Cuciti will take on responsibility for growing and expanding services for the escrow, project finance, and reinsurance trust markets of CSC’s wholly owned, regulated subsidiary, Delaware Trust Company.
Cuciti will report to Ed Morelli, senior managing director and head of project finance, escrow services and reinsurance trust at the firm.
“As we continue to grow in the U.S., Latin America, and global markets, John’s expertise and experience with these products, markets, and clients will be vital to identifying new and exciting opportunities and areas of focus,” Morelli said.
Dan Fisher, executive vice president of corporate trust, agency, and independent director services noted that Cuciti’s experience aligns with the firms global expansion goals.
Fisher said, “John’s highly regarded industry reputation for product expertise and innovation is perfectly aligned with our global growth strategy and trajectory. He’s a welcome addition to our talented and successful corporate trust and agency team.”
“I am beyond thrilled to join Delaware Trust,” added Cuciti. “The company’s unwavering commitment to innovation, its global reach, and remarkable team sets it apart. In today’s ever-changing business landscape, the stability offered by a privately owned company is invaluable. It provides a solid foundation for long-term success, allowing us to make strategic decisions with a focus on delivering exceptional value to our clients.”
Cuciti has more than 20 years of agency and trust experience, with previous roles prior to his time at Citigroup including positions with Deutsche Bank and Prudential Securities.
