Nedgroup Investments Appoints Citi to Provide Full Range of Investor Services
London - September 5, 2011 – Citigroup today announced that its Global Transaction Services unit has been awarded a new mandate by collective investment schemes manager Nedgroup Investments to provide a full investor service provision for its new Irish UCITS fund.
The mandate includes trustee and custody services, fund administration, transfer and foreign exchange solutions.
Richard Ernesti, Global Head of Investor Client Sales Management at Citi said: "We look forward to supporting Nedgroup Investments with their new UCITS fund. In doing so, we’ll leverage our local market expertise as well as our global capabilities across Securities Funds and Services in order to create a tailored program and meet the fund’s specific needs."
Andrew Lodge, Managing Director of Nedgroup Investments (IoM) Limited, said: "The quality of the service providers is a key factor in the success of the product and we are delighted to enter into an agreement with a truly professional and highly respected company such as Citi."
Through its Securities and Fund Services business, Citi’s industry-focused experts provide institutional investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With $13.5 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.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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.
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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, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the second quarter of 2011, it held on average $365 billion in liability balances and $13.5 trillion in assets under custody.
About Nedgroup Investments
As part of Nedbank, one of South Africa’s top four banks, Nedgroup Investments works with financial advisers to offer individual and institutional investors access to a range of offshore collective investment schemes and investment management services. Established in the Isle of Man in 1993 and licensed by the Isle of Man Financial Supervision Commission it has assets under management in excess of $1bn.
More information can be obtained from the company’s website at www.nedgroupinvestments.com or by e-mailing firstname.lastname@example.org.