Citi Named Securities Lending Equity Trader of the Year
OpenLendSM Gains Third Award for Its Innovative Approach to Securities Lending
New York, NY - December 16, 2011 – Citi today announced that it has been named securities lending Equity Trader of the Year by Fundamentals. Recipients of the Fundamentals awards are nominated and selected by the magazine’s registered readers, contributing editors and editorial staff of the publication, fund managers, fund trustees and industry experts.
"We are very pleased to have received this prestigious award," says Tim Douglas, Global Head of Securities Finance, Citi. "It represents further recognition of our market-leading OpenLendSM capabilities in equity lending. Over the past year, we have demonstrated market leadership with a number of breakthrough innovations – new markets, new products, and new services – all developed as part of our OpenLend offering to support our clients’ success."
Among Citi’s OpenLend market-leading achievements over the last 12 months:
- The introduction of OpenLend, an innovative approach to securities lending that provides clients with a boutique service to help enhance portfolio performance through an open architecture solution with access to Agency, Third-Party, Hybrid and Exclusive lending. OpenLend leverages Citi’s key strengths: unsurpassed global presence, robust risk management controls, innovative trading strategies and overall market leadership.
- The launch of our OpenLend for Socially Responsible Investors offering provides clients with the ability to invest their cash collateral in accordance with socially responsible investing principles that consider environment, social and governance factors.
- Citi has continued to invest heavily in our best-in-class, scalable Securities Finance Reporting (SFR) platform that provides lenders with a transparent view into their program information. Clients now have greater flexibility in accessing their specific lending, collateral management, and cash investment data.
"The Securities Lending Industry Awards were launched in 2009 and met a demand from the users of securities lending programs as well as practitioners and technology companies for an awards program that awarded a wider range of skills at work within the industry in a more transparent and engaging way," says Mark Latham, executive editor, Fundamentals.
OpenLend has also been named European Securities Lender of the Year by International Custody & Fund Administration (ICFA) and was named the leader in the Emerging Markets Capability category in a survey of the world’s leading borrowers by Global Investor.
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 $12.5 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.
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 third quarter of 2011, it held on average $365 billion in liability balances and $12.5 trillion in assets under custody.
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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