Citi Wins Mandate from Victory Capital to Provide Additional Fund Administration and Custody Services
October 03 2019 - 9:00AM
Business Wire
Citi has been appointed by Victory Capital to provide fund
administration, custody, ETF services and securities lending for
Victory's most recent acquisition. The new mandate resulted in the
transfer of servicing for 53 mutual funds and ETFs to Citi,
representing approximately $80 billion in assets under custody.
“We have a long-standing relationship with Citi, and we knew we
could rely on their operational expertise and service model for the
efficient integration of these additional funds,” said Christopher
Dyer, Director of Fund Administration for Victory Capital. “We are
confident Citi is the right partner to help us achieve our
objectives with this strategic expansion of our business.”
“We are proud of our relationship with Victory Capital and
pleased that they have chosen us again as their partner for
growth,” said Irimga McKay, Global Head of Custody and Fund
Services Client Executives and Account Management for Securities
Services.
This new business further expands Citi’s existing relationship
with Victory Capital where it has provided fund services to the
Victory Funds since 1986 and full ETF services for its
VictoryShares branded ETFs since 2017.
Dominic Crowe, North America Head of Custody and Fund Services,
Citi added, “We have continued to invest in building a world-class
global custody and fund servicing platform, that includes ETFs, and
this latest mandate from Victory Capital affirms our momentum.”
Citi recently announced the expansion of its ETF servicing
capabilities to cover EMEA domiciled ETFs, following the successful
buildout of its platform in the US, Latin America and Asia.
With over $21.7 trillion of assets under custody and
administration and the industry-leading proprietary network
spanning over 60 markets, Citi’s Custody and Funds Services
business provides clients with in-depth local market expertise,
advanced processing technologies and a wide range of fund services
that can be tailored to meet clients’ needs.
About Victory Capital:
Victory Capital provides specialized investment strategies to
institutions, intermediaries, retirement platforms and individual
investors. Through its Investment Franchises and Solutions
Platform, Victory Capital offers a diverse array of independent
investment approaches and innovative investment vehicles designed
to drive better investor outcomes. This includes actively managed
mutual funds and separately managed accounts, rules-based and
active ETFs, multi-asset class strategies, custom solutions and a
529 College Savings Plan. For more information, please visit
www.vcm.com.
About 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
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version on businesswire.com: https://www.businesswire.com/news/home/20191003005110/en/
Citi Media: New York Nina Das nina.das@citi.com +1 (212)
816-9267
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