Citi has agreed to extend its partnership with Netwealth, a fund platform based in Australia, as its provider of global custody, global and domestic equities execution and fund administration. Netwealth will be the first Australian wealth platform to have access to Citi’s Execution to Custody (E2C) service, which provides global execution, settlement and custody services…
Category: Citi
Citi adds client reporting functionality to Clarity
Citi has launched a new client reporting solution as the latest enhancement to its middle office services. The new reporting service is built on the Vermilion Reporting Suite, a global client reporting platform, coupled with Citi’s own Clarity data and analytics platform. The new reporting service offers asset manager clients a low-touch, automated solution for…
Citi rolls out enhancements to Clarity data platform
Citi has enhanced its securities services data services platform, Citi Velocity Clarity. The enhancements to Clarity include a new integrated reporting tool that enables clients to overlay their own data, including graphical elements, with Citi held data to publish tailored reports. Data from middle-office trade processing, ETFs, and custody billing has been integrated into Citi’s…
Citi wins domestic fund custody licence in China
Citi has received a domestic fund custody licence from the China Securities Regulatory Commission (CSRC). The announcement makes Citi the first U.S. bank, and the first bank among the top five global custodians, to be granted such a licence, which will enable Citi to provide custody-related services to both mutual funds and private funds domiciled…
Citi adds Finland to direct custody & clearing network
Citi is to offer direct custody & clearing (DCC) services in Finland. This new offering expands Citi’s proprietary DCC network to cover the whole Nordic region, making Citi the only international bank to offer a pan-Nordic service. Citi will become a member of Euroclear Finland, the central securities depository, and will access the system through…
Citi takes USD9bn of John Hancock fund assets from State Street
A major breakthrough for Citi in the ’40 Act space, where John Hancock Investment Management has transferred the custody of USD9bn in fund assets to Citi from State Street. Citi has assumed custody for three Hancock funds: the Fundamental Large Cap Core, the Balanced and the Disciplined Value International, Citi has an existing mutual fund…
BNY Mellon adds senior talent across asset servicing business
BNY Mellon has made some significant hires across its asset servicing business. Mark McKeon joins as global head of front-to-back solutions, based in Dublin. He is charged with expanding asset servicing’s front-to-back solutions platform globally, connecting the front, middle and back office to deliver a seamless platform for clients. His remit will include OMS partnerships,…
Citi hires BNY Mellon’s Jay Lipman as client executive
Jay Lipman has joined Citi as a client executive for custody & fund services. He joins from BNY Mellon, where he was the global lead for many of the firm’s most complex client relationships. Based in New York, he reports to Irimga McKay, global head of client services for custody & fund services.
Citi wins custody mandate for CAVALI’s dual-listed securities in Peru
CAVALI S.A. ICLV S.A., the CSD for the Lima Stock Exchange, has selected Citi to provide custody and tax services for USD6bn of dual-listed securities. The dual listing platform of the Lima Stock Exchange and CAVALI provides investors with access to international securities. The mandate represents the majority of international assets listed locally.
Citi supports launch of two L&I ETPs for CSOP AM in Hong Kong
Citi has supported the launch of two new leveraged and inverse (L&I) exchange-traded products by CSOP Asset Management, and will be providing CSOP with custody, fund administration and trustee services. Launched in Hong Kong, the new L&I products track China A-shares and allow investors to invest into the mainland China CSI 300 Index. Citi reports…