Bank of Ireland Securities Services and Citi confirm Custody Partnership
London, Dublin - February 9, 2010 – Citigroup announced today that its Global Transaction Services business has signed a new agreement with Bank of Ireland Securities Services to continue to provide custody services in a range of markets. The Dublin based Administrator has re-affirmed Citi as its sub-custody provider in 13 markets across Latin America and Eastern Europe.
By choosing Citi as their custody and clearing services provider, Bank of Ireland Securities Services will have access to Citi’s proprietary network, the largest in the world with 57 markets globally, of which 31 markets are in Europe, the Middle East and Africa.
Stephen Baker, Director - Head of Custody, Bank of Ireland Securities Services said, "Our mission is to be the best service provider with a reputation for exceeding customer expectations. In the interests of our clients, we look for high quality service delivery, and this is all the more important where market nuances come into play. We are proud to continue our relationship with Citi in these markets’.
Satvinder Singh, Head of Direct Custody and Clearing, Europe, Middle East and Africa, Citi, said "We are delighted that Bank of Ireland Securities Services has reaffirmed their commitment to Citi. This reappointment illustrates how our worldwide network and local market expertise comes together to provide our clients with an unrivalled global solution."
Through its proprietary network in 57 markets, Citi’s Securities and Fund Services business provides the clearing and settlement services required by broker dealers, global custodians and industry infrastructures, to support trading and investing activities around the world. Clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.
About Global Transaction Services
Global Transaction Services, a division of Citi's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citi's Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2009, it held on average $335 billion in liability balances and $12.1 trillion in assets under custody.
About Bank of Ireland Securities Services
Bank of Ireland Securities Services have in excess of $170 billion of assets under custody and administration. BoISS provides custody and administration for funds, including assurance linked funds, exchange traded funds, hedge funds, money market funds and multi-manager funds, and also provides a range of middle office services to asset managers and asset gatherers.