The Bank for International Settlements (BIS), the Swiss National Bank (SNB), and SIX, Switzerland’s main provider of financial infrastructure services, have concluded the second phase of Project Helvetia, which looks toward a future with more tokenised financial assets based on distributed ledger technology coexisting with today’s systems. SNB and five commercial banks – Citi, Credit…
Category: Citi
Citi wins lion’s share of BlackRock’s iShares rebalancing
Citi has emerged as the major winner in BlackRock’s rebalancing of its provider panel for the USD2.3trn iShares’ assets in U.S.-domiciled ETFs. The decision is the culmination of a nearly two year-long due diligence process with the selection of four of the leading custody banks to support the growth of U.S. iShares ETFs and strengthen…
HSBC hires global head of investor services product
CP Yap, who was previously president and CEO of Computershare in Hong Kong, has joined HSBC as global head of investor services product, markets & securities services. He is based in Hong Kong, reporting to Sébastien Danloy, global head of investor services at HSBC, and Brian Godins, regional head of securities services, Asia & MENAT.…
Mirae appoints Citi in Australia
Mirae Asset Global Investments, a Korea-based investment manager with USD218bn AuM, has appointed Citi Australia as provider of custody and fund administration services for its Australian traditional fund business. Kris Walesby, CEO, Mirae Asset Australia said: “We are delighted to partner with a highly experienced partner such as Citi as we strategically look at growth…
Citi strikes deal with Taskize
Citi and Taskize, a Euroclear company, have struck an agreement through which Citi’s custody clients can leverage Taskize’s query management platform to directly connect to their Citi operations counterparts. This collaboration brings together Taskize’s structured workflow capabilities and Citi’s proprietary custody network to create a network effect between Citi, its counterparts and various market infrastructures…
Northern Trust partners with Snowflake
Northern Trust and Equity Data Science (EDS), in which Northern Trust has a strategic stake, have collaborated with Snowflake, the data cloud company, to enhance secure data sharing and onboarding for asset servicing clients using Northern’s Investment Data Science capabilities. Leveraging Snowflake’s data-sharing and cloud technology, Northern Trust and EDS can provide a better, faster…
BetaShares hires Citi for custody & fund admin
Citi has been appointed by BetaShares, an Australian fund manager, as provider of custody and fund administration services. BetaShares is said to manage the broadest range of ETFs in the Australian market, with AUSD21bn (USD15.5bn) AuM. In Australia, Citi has added 24 new clients in the past 18 months, primarily as a result of a…
Citi & SimCorp form data management alliance
SimCorp and Citi have formed an alliance through which Citi’s securities services business will integrate post-trade custody data with SimCorp to offer a front-to-back user experience for mutual clients. The collaboration brings together SimCorp’s technology and service solutions with Citi’s proprietary custody network to help clients with data consolidation and consumption, and enhance productivity. The…
State Street names new chief risk officer
State Street has named Brad Hu its chief risk officer, effective January 1, 2022. Hu succeeds Andrew Kuritzkes, who is retiring from State Street. Hu was previously the chief risk officer at Citigroup.
Chris Cox heads for senior TTS role with Citi
Chris Cox has been appointed as global head of trade and working capital solutions in Citi’s treasury & trade solutions group (TTS). He will report to Shahmir Khaliq, global head, treasury and trade solutions, based in London. Cox is currently the global head of data, digital & strategic programs for securities services, EMEA head of…