Citigroup Inc. (NYSE: C)
TORONTO, Nov. 18, 2013 /CNW/ - Citi has been selected to provide custody and administration services to the Canadian Broadcasting Corporation Pension Plan, the first mandate of its kind for Citi in Canada.
The 10-year mandate for the $5-billion pension plan includes a host of leading pension administration services offered by Citi in markets around the world, such as custody, accounting, securities lending, foreign exchange, performance and risk analytics, and post-trade compliance reporting.
"We are pleased to have been chosen by the CBC Pension Board of Trustees to administer such an important asset for the plan members and CBC/Radio-Canada." said Gurmeet Singh Ahluwalia, Securities and Fund Services head for Citi in Canada. "Citi's proven abilities in services to the asset management industry offer top-notch value, efficiency and transparency to our clients. We look forward to a mutually beneficial working relationship."
"After an in-depth review of our service requirements and the capabilities of the global custodians, we are pleased to align ourselves with Citi for the benefit of our pension plan members," said Debra Alves, Managing Director/CEO of the pension plan. "We are excited about the value-added services they will bring to our plan, including increased transparency and risk management tools."
Citi OpenInvestorSM 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. With $13.9 trillion in assets under custody and administration, Citi OpenInvestor provides institutional, alternative and wealth managers with middle office, fund services, custody, and 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.
In Canada, Citi employs approximately 3,000 individuals across the country in a range of consumer and institutional businesses.
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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For further information:
Troy Underhill, Public Affairs, Citi Canada