Citi C has extended its leadership position in both custody and fund
administration for Exchange Traded Funds (ETFs) in Latin America with new
mandates from BlackRock in Brazil and Mexico.
Citi supported the launch of BlackRock's two new ETFs in Brazil investing in
carbon and public infrastructure and has expanded its relationship with
BlackRock in Mexico with the conversion of the largest ETF product in Latin
America.
“We have a long-standing relationship with Citi across the range of our
exchange traded funds in Latin America and these mandates further our
collaboration to provide investors with efficient access to these markets,”
said Armando Senra, BlackRock Head of the Latin America & Iberia Region. “With
Citi's knowledge of the specialized needs of ETFs and local market
infrastructure and global expertise, we are able to spend more time with our
clients and at growing our business.”
Citi's regional assets under custody are in excess of $8 Billion. At the end
of the third quarter 2012, Citi's regional ETF services market share stands at
approximately 80%.
"We are truly pleased to expand our collaboration with BlackRock and to
continue to support them with our local and global capabilities in trade
execution, custody and fund administration throughout Latin America," said
Alejandro Berney, Head of Securities and Fund Services for Latin America,
Citi. “Over the last few years Citi has concentrated on further enhancing our
global support for Exchange Traded Funds. By joining our specialized ETF
knowledge, local market infrastructure and global expertise we are pleased
that we have been able to deliver solutions to our trusted partners. We are
dedicated to continuously ensuring we remain on the frontier of delivering
market innovation to our partners.”
Citi OpenInvestor currently provides services to eleven ETF managers in nine
markets around the world. By offering custody, administration, index receipt
agent, liquidity, depositary receipts and Citi's trading services across both
active and passive ETFs. Citi focuses on delivering comprehensive support from
strategy development to IPO and implementation.
"With Citi's more than 70,000 people and on the ground presence in 24
countries, we are exceptionally positioned to provide local and global
capabilities in trade execution, custody and fund administration throughout
Latin America," added Berney. “Leveraging the depth of Citi's expertise, we
deliver local access, insight and expertise to support the growth of our
clients' ETF businesses in Latin America.”
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
institutional, alternative and wealth managers with middle office, fund
services, custody, investing and financing solutions that are focused on their
specific challenges and customized to their individual needs. For more
information, visit openinvestor.transactionservices.citi.com
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