Sun, Dec 21, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Citi Awarded Mandate from Veritable LP to Provide Hedge Fund Middle Office and Administration Services for $2.2 Billion in Assets

Wednesday, February 01, 2012
Opalesque Industry Update: Citi today announced that Veritable, L.P. has awarded it a mandate to provide a comprehensive suite of hedge fund services including middle office, fund accounting, and investor services. Veritable, L.P. is among the largest independently owned Registered Investment Advisors in the United States providing unbiased, tax efficient, integrated investment solutions for families of substantial wealth.

“We chose Citi based on the quality of their staff and the level of transparency their technology systems will provide us,” said Charles Keates, Partner, General Counsel and Chief Compliance Officer of Veritable L.P. “Citi understood our unique business needs and their technology and service model can enable us to focus more resources on investments and servicing our investors.”

Citi’s web-based middle office monitor allows Veritable’s operations and accounting staff, along with portfolio managers, to monitor trades and positions on a real-time basis through a secure website. In addition, portfolio data is continuously updated and available to Veritable’s accounting, research, risk and fund administration teams, allowing them to run customized reports and make ad hoc inquiries. “Veritable is a leader in their space and we look forward to providing these services and technology to support the further growth of their business”, said Bob Wallace, Head of North America for Securities and Fund Services, Citi. “We are truly pleased that we have the opportunity to demonstrate the value of our expert staff and technology to Veritable.”

Veritable

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. Opalesque Exclusive: U.S. legal receivables fund launched in August[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c

  5. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und