Janus Appoints Citigroup to Be Service Provider for Separately Managed Accounts
New York, October 19, 2005 — Global Transaction Services, a business unit of Citigroup Corporate and Investment Banking, today announced that it has signed a definitive services agreement with Janus Capital Group to be the service provider for the asset manager’s retail separately managed accounts (SMA) business. Citigroup is expected to commence managed account operations for Janus in mid-November.
“We conducted a comprehensive review of service providers in response to the rapid expansion of our managed account business,” says David Weitzenfeld, Senior Director, Global Platform Services, Janus Capital Group. “Citigroup’s solution proved to be a good fit for both our current requirements and go-forward strategic initiatives. We are confident this relationship will not only enhance our ability to provide the best service for our clients, but also equip Janus with operational tools and expertise to grow our managed account business. We are excited to work with Citigroup as we continue to add sponsor relationships and introduce new investment strategies for clients.”
“This appointment by Janus is additional evidence that the SMA marketplace is recognizing that we provide solutions to help asset managers drive business growth,” says Chandresh Iyer, Managing Director, Global Transaction Services. “The market knowledge of our SMA specialists and the trading and technological advantages of our best-in-class operating platform definitively differentiate us from other service providers and enable us to offer our clients measurable added value with bottom-line results.”
The technological core of Citigroup’s SMA capabilities is Citigroup Asset Manager Solutions for Separately Managed Accounts. This end-to-end operations servicing platform, which standardizes current and disparate processes across all aspects of the industry, allows investment managers to administer all their accounts, regardless of style of sponsor, very efficiently. Its institutional-quality trading solutions solve burgeoning best-execution issues for both equities and fixed income. It provides real-time access to performance and portfolio data, enables investment advisors to deliver robust statement reporting to clients both in print and via the Web, while allowing them to enjoy considerable cost savings and the capability to enhance profitability and assets under management.
Founded in 1969, Denver-based Janus Capital Group Inc. (NYSE: JNS) is one of the world’s premier growth investors and a leader in fundamental investment research. Janus offers individual and institutional investors and financial professionals an array of investment disciplines including growth, core, value and international equity disciplines, as well as specialty fixed income and mathematically risk-managed portfolios. Outside the U.S., Janus has offices in Tokyo, London, Hong Kong and Milan. Janus Capital Group consists of Janus Capital Management LLC, Enhanced Investment Technologies, LLC (INTECH), and Capital Group Partners Inc. Janus Capital Group also owns 30% of Perkins, Wolf, McDonnell and Company, LLC.
Citigroup (NYSE: C), the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, and Banamex. Additional information may be found at www.citigroup.com
About Citigroup Corporate and Investment Banking
Our Corporate and Investment Banking group achieves the extraordinary for our clients around the world. No financial institution is more committed to understanding and advancing the goals of its clients—our diverse and talented staff in some 100 countries advises companies, governments, and institutional investors on the best way to realize their strategic objectives. We create solutions for and provide the broadest possible capital and market access to thousands of issuer and investor clients, and no institution better executes the increasingly complex payment and cash management solutions required in today’s global economy. Core business lines under Citigroup Corporate and Investment Banking include Global Capital Markets, Global Banking and Global Transaction Services.