Citigroup Finance Canada, Inc. enters Transition Services Agreement with Fairstone Financial, Inc.
Apr 03, 2017, 08:58 ET
TORONTO, April 3, 2017 /CNW/ - In connection with the sale by Citigroup Fund Services Canada, Unlimited Liability Company of CitiFinancial Canada, Inc. and its subsidiaries (collectively, the Business), Citigroup Finance Canada Inc. (CFC), the parent of Citigroup Fund Services Canada, Unlimited Liability Company, has entered into a Transition Services Agreement (TSA) with Fairstone Financial, Inc., formerly CitiFinancial Canada, Inc. Pursuant to this agreement CFC will continue to provide for a period of up to two years services that it currently provides to the Business and other services in support of the Business's transition away from systems and services provided by CFC. Such services include primarily:
- information technology-related functions;
- support for accounting, tax, reconciliation and reporting; and
- limited services in connection with human resources activities.
Citigroup Finance Canada Inc.is a wholly owned subsidiary of Citigroup (NYSE: C).
More information on the TSA is available by consulting the Citigroup Finance Canada Inc. material change report at www.sedar.com.
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.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
SOURCE CITIBANK CANADA
For further information: Troy Underhill, (416) 947-5687, [email protected]
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