Banco do Brasil Appoints Citi to Provide Investor Services for a New Fund and Sub-Funds
London, Dublin, Brasilia - January 20, 2011 – Citigroup’s Global Transaction Services has been appointed by Banco do Brasil to provide a full suite of investor services including trustee, custody, administration, transfer agency and cash management to Banco do Brasil’s new Irish domiciled Qualified Investor Fund, BB Unit Trust Ireland, an open-ended umbrella unit trust authorised in Ireland by the Central Bank of Ireland.
José Ewerton Motta Nunes, Head of Distribution, Banco do Brasil, said, "By selecting Citi, we are obtaining access to their high calibre technology, expertise, global footprint and local knowledge. Citi was able to provide us with a state-of-the-art solution that was flexible and matched the needs of our company".
Richard M.F. Ernesti, Global Head of Investor Services Client & Sales Management, Citi, said, "By winning this important mandate, Citi has received a strong acknowledgement from Banco do Brasil – one of the oldest financial institutions in the world – for our investor services solutions and products. Banco do Brasil will benefit from our network and breadth of services to help it seize the advantages of the current investment environment".
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through 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 2010, it held on average $353 billion in liability balances and $12.6 trillion in assets under custody.
Through its Securities and Fund Services business, Citi provides institutions worldwide with an unparalleled portfolio of offerings that enable them to grow, reduce cost and mitigate risk. With $12.6 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.
About Banco do Brasil
Banco do Brasil was the first bank to operate in the country and nowadays is Latin America’s largest financial institution. In over 200 years of existence, BB has been both trail-blazer and a prominent feature in the Brazilian landscape, always playing an active role in Brazil's history and culture. Its brand is one of the best known and respected in Brazil, acquiring in the course of its existence connotations of trust, security, credibility and modernity.
Banco do Brasil has a strong presence in Brazil and around the world, continuing to expand its international presence. Currently there are more than 40 service points abroad, consisting of branches, sub-branches, business units / offices and subsidiaries.