Can you tell me about your journey into the securities finance industry?
To be candid, a career in securities finance was not initially in my purview. It is an industry that often lacks visibility among college students, so I was not initially aware of its potential as a career path. I pursued an undergraduate degree in finance and a master’s in international business, with the goal of becoming a portfolio manager or private banker. I began my career in wealth management at Citi. However, the growth in the services industry became increasingly apparent. Recognising this trend, I decided to pivot into an industry that was new to me, and I am very grateful for that decision. I now feel confident and truly at home within the bank.
With the emergence of new technologies, learning and upskilling at Citi is even more critical. Employees are equipped with resources to expand their skills, especially in AI and data. Working in securities finance, I am continuously presented with opportunities for learning and development. I now find myself at the intersection of real-world market changes, client’s needs, and technology investment, constantly challenging and expanding my skill set. Given Citi's significant focus and investment in this sector, I am very excited to be a part of this team and contribute to its growth.
As a young professional, what aspects of your role or the industry do you find most exciting?
One of the most compelling aspects of my role is undoubtedly the unparalleled global reach of Citi. Citi is present in more than 90 markets including key hubs in London, Hong Kong, and Singapore, offering a plethora of knowledge and perspectives. This expansive global footprint provides me an opportunity to identify and capitalise on growth opportunities, and to address the diverse and evolving needs of clients on an international scale. With my background in international business, our expansive outreach continues to impress me.
It is also profoundly exciting to be at the forefront of this business as it continues to evolve. We are constantly adapting to dynamic shifts in the global market, integrating new technologies, and navigating regulatory standards; all with the goal of strengthening our position as a trusted partner for our clients. The multifaceted nature of this business means there are always new challenges and learning experiences, and the extensive career opportunities within securities finance alone are very appealing to me.
Many companies offer various training and development opportunities for their employees. How has your company supported your growth?
The training, development, mobility, and networking opportunities offered by Citi are a main contributor influencing why I love where I work. Being part of an organisation with a leading global network offers me countless opportunities and resources to grow and upskill. As someone who is relatively early in my career, these opportunities are crucial in my learning and development. This immense investment in early talent is what sets Citi apart from other firms.
Citi also has countless development and networking groups that I have been involved in throughout my time here. Through initiatives such as the Associates and Analysts Council (AAC), junior team members gain unique access to senior leadership who share insights into their careers and roles. These interactions foster industry discussion and crucial connections, significantly contributing to my growth.
Throughout my various roles across the bank, I have been fortunate to receive an exceptional support system. Working for people that you have a tremendous amount of respect and admiration for makes all the difference. While I am proud of my accomplishments, I am deeply aware that my current position is largely a testament to the recognition I have received from my managers and the opportunity to learn from exemplary leadership.
What misconceptions about working in the financial industry have you encountered, and how do you address these challenges?
Before working in the finance industry, I expected an intensely competitive, ‘dog eat dog’ environment, with high stress, limited personal connection, and an ‘every man for themselves’ culture. While competition is present, it manifests as a collective, camaraderie-like drive among highly accomplished, high achieving individuals with the common goal of Citi’s overarching success, rather than tearing someone down.
We really do have a ‘One Citi’ approach, collaborating seamlessly within and across the firm. This industry can be high pressure at times, but supportive colleagues help alleviate the burden, thereby motivating me to deliver for the team and, ultimately, for our clients.
To counteract these perceptions, I have adopted a ‘pay it forward’ approach by extending the same level of camaraderie, support, and guidance to new joiners of the firm. This helps to persevere the supportive culture that Citi has curated.
What advice do you have for other young professionals aspiring to pursue a career in your industry?
It is important for young professionals to understand that they are not expected to be industry experts on day one. It is easy to compare yourself to people that have worked in this business longer than you have been alive, so it is important to give yourself grace and understand that it is a gradual process that will not happen overnight. By learning one new thing every day, this knowledge will build upon itself, and you will gradually build confidence and experience.
It is also important to have a can-do attitude and continue to raise your hand, no matter the task. When someone first joins a firm, it is unlikely that they will be working on groundbreaking deals or executing million-dollar trades on day one. However small the project or task may seem, do everything with excellence. The quality of work you put out should speak for itself. If you prove to be a trusted team member, your manager and team will continue to involve you in their work and give you increasing responsibilities, and you will get pulled into important, impactful projects. Have patience, ask questions, and work hard! The rest will fall into place.
Looking ahead, where do you see yourself in the next five years in terms of your career goals and aspirations?
Having held three different roles within a single firm has provided me with broad exposure across private and public markets, marketing, risk and control, operations, and technology. Over the next five years, my aim is to further develop my capabilities within a client-facing role. Understanding that securities finance is fundamentally a relationship-driven business, acquiring a deep understanding of client needs and determining how Citi can adapt to effectively support those needs is my primary focus.
Furthermore, influenced by the significant value I place on the mentorships received throughout my career, I aspire to transition into a management role, leading and developing a team. I also intend to continue my active involvement across the bank, seeking to make a broader contribution to the organisation through my daily responsibilities and by engaging in external projects and networks.
Whitney Hagenstad
Whitney Hagenstad is a vice president on the securities finance product team for Investor Services at Citi. Whitney is responsible for securities finance transformation initiatives, the development of product plans and strategies, and oversees operational management across Citi's agency securities lending, collateral management, and directed agency investment services products.
Prior to her current role, Whitney served in global business execution for Íø±¬³Ô¹Ï Services and managed global business productivity initiatives, organisational development activities, and critical communication strategies for the firm's diverse suite of Investor Services solutions. Her experience also includes a tenure as in the Ultra-High Net Worth division at Citi Private Bank. In this role, Whitney drove client relationships, managed client portfolios, and identified new client acquisition opportunities while delivering tailored investment solutions to a discerning clientele.
Whitney holds both a Master of International Business and a Bachelor of Science in Finance from the University of Florida.
Next emerging talent →
Tradeweb
Ellie Brennan
Image: Whitney Hagenstad 