Apex Group Selects Citi as Global Custodian
January 18 2019 - 10:19AM
Business Wire
Citi (NYSE: C) has been awarded a mandate from Apex Group Ltd.
(“Apex”), one of the world's largest fund administrators, to
provide custody services to its global client base. The partnership
between Citi and Apex will deliver integrated custody services and
streamlined operational processes to Apex’s asset management
clients.
With over $21.3 trillion of assets under custody and
administration1 and the industry-leading proprietary network
spanning over 60 proprietary branches as well as agent banks in 106
markets, Citi’s custody business combines in-depth local market
expertise with an extensive global platform to deliver consistent,
scalable and flexible solutions that support clients’ most complex
custody needs.
“Partnering with Citi to deliver custody services to our global
client base will add great value to the Apex offering through the
bank’s proprietary network and complementary global operational and
service models. Citi’s institutional capabilities fit well with our
ongoing growth trajectory and recently acquired banking and
depositary services”, said David Rhydderch, Head of Regulated
Product, Apex Group Ltd.
The Apex Group has offices across 40 locations worldwide and is
the world’s fifth largest fund administrator with $560bn in assets
under administration. The Group delivers a full range of services
from fund administration and corporate services, to comprehensive
middle office solutions, depositary services, and now custody
services via its partnership with Citi.
“We are very pleased to have been selected by the Apex Group and
look forward helping them achieve their impressive growth
objectives,” Sanjiv Sawhney, Global Head of Custody and Fund
Services at Citi said. “As we continue to build on the
momentum of our custody platform, this mandate highlights our
commitment to serve our clients across jurisdictions with an
integrated custody model that delivers accuracy, risk mitigation,
market intimacy and low latency, whilst driving operational
efficiencies.”
*****
About Apex The Apex Group, established in Bermuda in
2003, is the world's fifth largest fund administrator. The Group
has continually improved and evolved its product suite and offers a
full service solution to its clients: from fund administration,
middle office, custody and depositary to corporate services and
fund platforms. Apex now administers $560bn in assets, including
the investments of some of the world’s largest funds and
institutional investors. www.apexfundservices.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
________________________1 Q3 2018
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version on businesswire.com: https://www.businesswire.com/news/home/20190118005300/en/
Anja Kleinanja.klein@citi.com+44 207 508 3835
Rosie Guest, Global Marketing Directorrosie@apexfunds.co.uk+44
203 961 1436
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