Jardine Lloyd Thompson Benefit Solutions To Work With Citigroup For Overseas Pension Payments
London – Jardine Lloyd Thompson Benefit Solutions (JLT), a major provider of employee benefit administration services, has appointed Citigroup Corporate and Investment Banking to work with JLT to process overseas pension payments for members of pension schemes that it administers.
Citigroup's Global Transaction Services will work with JLT to support the regular electronic payments to overseas pensioners in over 80 countries through its market leading Worldlink® Payment Services. Worldlink® Payment Services is used by corporations, financial institutions and governments to process international payments in over 135 currencies.
Adrian Stanworth, Director of Administration, JLT, said, "This new way of arranging overseas pension payments to the members of the pension schemes that we administer is part of our ongoing drive to improve customer service. Working with Citigroup means we can offer improved processes to members and clients both in the United Kingdom and abroad."
Naveed Sultan, Head of Cash Management for Europe, Middle East and Africa, Citigroup, said, "We are delighted that JLT is working in partnership with Citigroup to handle this critical part of its operation. As a world leader in processing overseas pension payments, Citigroup can provide JLT with improved processes, controls and reduced costs across our global network to benefit its clients and grow its business."
For information on Worldlink® Payment Services, please visit www.worldlink.com.
About JLT Benefit Solutions Ltd
JLT Benefit Solutions Ltd is part of the Jardine Lloyd Thompson Employee Benefits Group, which is part of the Jardine Lloyd Thompson group of companies. The Group is a leading risk management adviser, insurance and reinsurance broker as well as a major provider of employee benefits administration services and related consultancy advice.
The Jardine Lloyd Thompson Group PLC is quoted on the London Stock Exchange and is the largest European-headquartered company providing these services and is one of the largest firms of its type in the world. It operates out of more than 100 offices in over 30 countries and employs more than 5000 personnel.
Jardine Lloyd Thompson Employee Benefits Group in the UK employs over 800 professional staff in over 10 offices and has revenues of some £70m. It has five main operating divisions:
Administration Solutions Focuses on third party pensions and benefit administration.
Benefit Solutions Delivers actuarial, investment, pension, benefit and reward consulting services.
Premier Pension Services Supplies a range of SIPP and SSAS services to IFAs, accountants and lawyers.
Financial Institutions Services Provides outsourcing solutions for a range of pension products on behalf of life companies. Profund Solutions Provides pensions and benefits administration software such as Profund classic and oPen to in-house schemes, third party administrators and life companies. www.JLTgroup.com
About Citigroup Corporate and Investment Banking
Citigroup Corporate and Investment Banking is the most complete financial partner to corporations, financial institutions, institutional investors and governments in the world. As a global leader in banking, capital markets, and transaction services, with a presence in many countries dating back more than 100 years, Citigroup Corporate and Investment Banking enables clients to achieve their strategic financial objectives by providing them with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity.
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, securities brokerage, and wealth 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.