Citi OpenWealth® Unified Managed Household Platform Awarded 2011 Managed Solutions Innovator of the Year by Money Management Institute

OpenWealth Wins For Second Consecutive Year Integrating Trust Accounting And Custody Into Household Wealth Management And Reporting Capabilities.

New York - May 19, 2011 – Citi today announced that its OpenWealth® platform was awarded the 2011 Managed Solution Innovator of the Year Award for the addition of trust accounting and custody services integrated into OpenWealth’s award winning unified managed household (UMH) capabilities. This is the second consecutive year OpenWealth has won this award, winning also in 2010 for the launch of the first UMH platform. As fiduciaries embrace UMH, personal trusts are increasingly converging with brokerage wealth management accounts, requiring holistic wealth management household rebalancing and data aggregation capabilities. Fiduciaries increasingly need a robust solution capable of rebalancing across accounts, asset classes, managers and reporting platforms to take a holistic management approach for investor assets. The addition of these capabilities puts Citi in a unique position to provide an end-to-end platform from front-end wealth management tools to trust accounting and custody.

OpenWealth has been in production providing UMH capabilities since 2009 and currently supports UMH assets of $4.5 billion and trust assets of $10 billion with the following industry leading capabilities:

  • Automated household rebalancing with tax and cash flow optimization
  • Administration of multiple securities within and across the accounts in a household
  • Performance reporting at the household, portfolio, account and sleeve level
  • Aggregated reporting of assets from trust, brokerage and assets held away
  • Pre-trade compliant Rep-as-PM tools for any managed account product, including UMA/UMH
  • Automated overlay tools at no additional cost supporting model-only and all traditional managed accounts products
  • Open architecture supporting unique configurations of investment research, due diligence and overlay services
  • Industry leading connectivity and integration
  • Robust and modern trust accounting and custody capabilities

"We are honored to receive these accolades from the Money Management Institute for our industry leadership in wealth management services," said Chandresh Iyer, Global Head of Custody and Investment Services, Securities and Fund Services, Citi. "It is extremely gratifying to have received this recognition not only for the innovative solutions we bring to market, but also for helping advisors meet new fiduciary standards."

Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With over $13 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.

Global Transaction Services, a division of Citigroup’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, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the first quarter of 2011, it held on average $355 billion in liability balances and $13 trillion in assets under custody.


About Money Management Institute
Since 1997 the Money Management Institute (MMI) has been the leading voice for the global financial services organizations that provide advice and professionally-managed solutions to individual and institutional investors. Through industry advocacy, educational initiatives, regulatory affairs, data reporting and professional networking, MMI supports and advances the growth of managed investments. MMI members’ advice-driven investment solutions serve an evolving worldwide financial landscape and their organizations are committed to the highest standards of fiduciary responsibility and ethical conduct.

About Citi
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 or