Mon, Sep 26, 2016
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. North America - Acela fight splits hedge fund Connecticut and old money enclaves[more]

    From Bloomberg.com: Connecticut’s residential coastline is two worlds, the one of newcomer millionaires and one whose wealth and New England roots span generations. Now, their differences over a rail route threaten to gum up plans for the U.S. Northeast’s fastest-ever trains. About 30 miles from Man

  2. Activist News - Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership, Activist investors double chance of CEO exits[more]

    Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership From Calvinayre.com: Casino operator Caesars Entertainment has improved its offer to junior creditors to over $5b, but the offer is only good until Friday. On Wednesday, Caesars added an extra $1.6b to the $

  3. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  4. Hedge funds saw four consecutive months of outflows in August, but assets still up by $17.6bn YTD[more]

    Komfie Manalo, Opalesque Asia: Hedge funds witnessed four consecutive months of outflows with investor redemptions totaling $23.8bn as of end of August, data provider Eurekahedge said in its monthly report. But total hedge fund assets grew by

  5. Trend reversals lead to losses as managed futures drops 1.52% in August[more]

    Komfie Manalo, Opalesque Asia: Trend reversals in August have led managed futures traders to lose 1.52% last month according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.62% year to dat