STANDARD LIFE INVESTMENTS APPPOINTS CITI UK FIDUCIARY SERVICES AS TRUSTEE AND DEPOSITARY
London - March 22, 2010 – Citigroup announced today that Citi UK Fiduciary Services (CIP), part of the Global Transaction Services business, has signed a new agreement with leading global fund manager Standard Life Investments. The Edinburgh-based asset manager has appointed CIP as its principal trustee and depositary provider.
In September 2009, it was announced that Standard Life Investments had re-affirmed Citi as its principal fund administration and securities services provider with a new five year arrangement.
Andrew Gelb, Head of Securities and Fund Services, Europe, Middle East and Africa, Citi, said, "We are delighted by this further appointment by Standard Life and look forward to deepening our relationship with this prestigious company. They will have access to our best-in-class capabilities, service and innovation".
CIP was recently recognised in the R&M industry survey as the UK funds industry top performing trustee and depositary with clients that have assets in excess of £1bn.
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, 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 Securities and Fund Services
Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered though proven global platforms that feature modular, open architecture. With over $12 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.