Sun, Feb 14, 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. Asia - Hedge fund manager Kyle Bass estimates China's foreign reserves below critical level[more]

    From Nasdaq.com: Investor Kyle Bass stepped up his attack on China's currency, arguing in an investor letter distributed Wednesday that the second-largest economy's foreign reserves are "already below a critical level." The comments mark the latest effort by hedge funds and other investors to raise

  2. Investing - Some hedge funds want to make subprime auto loans next big short, 11 hedge funds that are “all in” on the FANG stocks, Hedge funds short London luxury homes, Cynet raises $7 million from U.S. hedge fund[more]

    Some hedge funds want to make subprime auto loans next big short From Bloomberg.com: A group of hedge funds, convinced they have found the next Big Short, are looking to bet against bonds backed by subprime auto loans. Good luck finding a bank willing to do the trade. Money manage

  3. Investing - Hedge funds see selloff in European bank stocks as buying opportunity[more]

    From WSJ.com: The massive selloff in European bank stocks and bonds is overdone and presents a “phenomenal” buying opportunity, according to some of Europe’s top hedge-fund managers. Despite a 28% slump in European bank stocks this year, including a 38% fall in Deutsche Bank AG and a 34% drop in Soc

  4. Legal - Carlyle accused of fraud by ex-employee, Hedge funds win CDS breach of contract suit against Deutsche Bank, Hedge fund asks for OK on $27.5m Goldman CDO deal, SFO examines Barclays hedge fund profits[more]

    Carlyle accused of fraud by ex-employee From AI-CIO.com: A former portfolio manager claims he was fired for blowing the whistle on “crazy” and “irresponsible” investments. Carlyle Group has been sued by a former portfolio manager for one of its hedge funds, who accused the firm of “knowi

  5. Illiquid assets are all the rage for hedge funds[more]

    From Valuewalk.com: …Institutional investors are increasingly turning to illiquid assets and active management strategies to combat macroeconomic trends, anticipated market volatility and diverging monetary policy, according to a new survey by Blackrock. And this week, Bloomberg has reported that at