Aetna Selects Citi’s OpenLendSM Securities Lending Solution
New York, NY - October 23, 2012 – Citi has been selected by Aetna, one of the United States’ leading diversified health care benefits companies, to provide securities lending services through its OpenLendSM platform.
As part of a suite of investment services delivered through Citi OpenInvestorSM, OpenLend delivers an award-winning, open-architecture securities lending solution that leverages Citi’s global presence, robust risk management controls and innovative trading strategies to help clients achieve their performance objectives.
“We are delighted to expand Citi’s long relationship with Aetna with this securities lending mandate,” said David Martocci, Head of Securities Finance, Securities and Fund Services, Citi. “We are pleased that Aetna recognized the value of our third-party securities lending expertise and our commitment to providing exceptional client service. The success of our OpenLend product is centered around providing customized solutions for our clients. We look forward to helping Aetna with its securities lending program.”
Citi OpenInvestor is the investment services solution for today’s diversified investor that combines specialized expertise, comprehensive capabilities and the power of Citi’s global network to help clients 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 clients’ specific challenges and customized to their individual needs.
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.
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.
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