normal text medium text large text print

Citi Awarded Middle Office Investment Services Mandate by Cathay Conning Asset Management

Hong Kong - October 16, 2012 – Citi has successfully implemented a middle office investment services mandate to support Hong Kong-based fund manager start-up Cathay Conning Asset Management (CCAM). CCAM is a joint venture between Taiwan’s Cathay Financial and Conning, a leading U.S. asset manager for the insurance industry.

“We have been delighted with the sizable effort made by Citi to set up our administration in only 5 weeks after we came to terms in our agreement and support our business launch,” said Mark Konyn, Chief Executive Officer, CCAM. “The excellent achievement was the result of the outstanding co-operation between our teams to create a direct link to Conning’s US platform to support middle office operations in Hong Kong and enabled us to start trading immediately. With Citi’s extensive resource pool and global expertise, we have a trusted partner for the long term that is flexible and willing to our business as we grow.”

Citi OpenInvestorSM Middle Office provides investment managers with daily operations, data management and technology solutions for investment administration to optimize trade support and client management. David Russell, Regional Head, Securities and Fund Services for Citi Transaction Services in Asia Pacific, commented, “Close collaboration between our teams in Asia and the US enabled Citi to leverage existing relationships with both parties to the joint venture. Our technology edge enabled us to connect CCAM to their order management system within a very tight time frame. Now that CCAM is already live and working well, we are optimistic that this will lead to a deeper partnership between CCAM and Citi in the future.”

Citi OpenInvestor® is the investment services solution for today’s diversified investor that delivers specialized expertise, comprehensive capabilities and the power of Citi’s global network to help them meet performance objectives across asset classes, strategies and geographies. Citi OpenInvestor provides complete investment services for institutional, alternative and wealth managers through middle office, fund services, custody, and investing and financing solutions that are focused on client specific challenges and customized to their individual needs. For more information, visit openinvestor.transactionservices.citi.com

Citi 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 95 countries, Citi’s Transaction Services supports over 65,000 clients. As of the third quarter of 2012, it held on average $415 billion in liability balances and $12.8 trillion in assets under custody

###


About Citi
Citi, the leading global bank, 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.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi