NEW YORK, Dec. 16, 2014 /PRNewswire/ -- Citi (NYSE: C)
Private Bank has announced that it has selected Fi-Tek, LLC's
Global Wealth Enterprise Solution™ (Global WealthES) as its core
securities processing and accounting platform. The firm will
now leverage Global WealthES to provide integrated straight through
functionality on a single database. At the heart of the system is a
robust securities processing and accounting engine, which is
designed for enterprise wide productivity improvement and reduction
of operational risks through automation of major functions. Global
WealthES also features a flexible communications bus built on
BizTalk technology to integrate with internal and external
ecosystems for seamless communications.
"Our partnership with Fi-Tek reaffirms Citi Private Bank's
commitment to servicing our clients by investing in the latest
technology," said John Barker, head
of Citi Private Bank North America Operations.
Fi-Tek developed Global WealthES by leveraging its current
wealth management platform TrustPortal, to serve the needs of
larger global private banks and custodians. "Over the last ten
years, we have invested heavily in new technology and in developing
wealth management lifecycle functionality to make Global
WealthES an efficient, feature rich, market leading solution
to help our customers manage their businesses more efficiently,"
said Subir Chatterjee, President
& CEO of Fi-Tek. "We recognize that our clients' business needs
are changing, so we continuously enhance our systems to help our
clients meet tomorrow's challenges. We are delighted to have a
sophisticated client like Citi Private Bank select our platform,
and we are enjoying our partnership."
Global WealthES's newer capabilities include global securities
processing, SWIFT interface for real time custody integration, data
aggregation, and a robust business intelligence tool to provide
senior managers the ability to analyze data to better manage their
business.
The Global WealthES platform is fully integrated with Citi's
Investor Services' proprietary global custody network which
provides direct access to 97 markets worldwide, as well as Citi's
Collective Investment Services (CIS), an industry-leading mutual
fund trade execution, settlement and custody service. Global
WealthES is deployed through a secure private environment
hosted by Fi-Tek.
Citi Private Bank advises some of the world's wealthiest, most
influential individuals and families. With $310 billion in global assets under management,
the franchise includes 50 offices in 15 countries, serving clients
across 139 countries. The firm offers clients products and services
covering capital markets, managed investments, portfolio
management, trust and estate planning, custody, investment finance,
banking and art, aircraft and sports advisory and finance.
Citi
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
Fi-Tek
Fi-Tek is a leading provider of technology and technology
enabled solutions to the wealth management and alternative
investments markets. A wide range of domestic and
international financial institutions, including Asset
Managers, Trust and Private Banks, Family Offices, Hedge Fund
Managers & Administrators, and Broker/Dealers service over
$1.3 trillion dollars of assets on
Fi-Tek's platforms.
Additional information on Fi-Tek and its solutions may be found
at www.fi-tek.com
Media Contact
Natalie Marin
Public Affairs
Citi Private Bank
(212)816-8022
natalie.elizabeth.marin@citi.com
Citi Private Bank is a business of Citigroup Inc. ("Citigroup"),
which provides its clients access to a broad array of products and
services available through bank and non-bank affiliates of
Citigroup. Not all products and services are provided by all
affiliates or are available at all locations. Neither Citigroup
Inc. nor any of its affiliates offer tax or legal advice. Custody
Services are provided by Citibank N.A.
Citi and Citi with Arc Design are registered service marks of
Citigroup Inc. or its affiliates.
© 2014 Citigroup Inc. All rights reserved. Citibank,
N.A. Member FDIC
INVESTMENT PRODUCTS:
NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
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SOURCE Fi-Tek; Citi Private Bank