Industry Updates

Citi wins mandate to provide administration services for $28 billion of US-based alternative investment assets for Credit Suisse’s asset management division

Wednesday, February 15, 2012

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Opalesque Industry Update: Citi today announced an agreement with Credit Suisse’s Asset Management division to provide a comprehensive suite of middle office, custody and hedge fund administration services to support a portion of its US-based Alternative Investments business.

As part of the mandate, a portion of the middle office operations within Credit Suisse’s Asset Management division will be fully transitioned onto Citi’s service platform, which includes operations, technology and data management capabilities. “We are pleased to demonstrate the value of our expert staff and leading technology to Credit Suisse’s Asset Management division,” said Mike Sleightholme, Head of Global Hedge Fund Services, with Citi’s Global Transaction Services.

Nigel Hill, Global Head of Liquid Investments Operations in Credit Suisse’s Asset Management division, said, “Our relationship with Citi gives us the opportunity to enhance our daily operations and the services we provide to our clients in a highly scalable manner.”

In addition to middle office solutions, Citi will provide custody and back office support for Credit Suisse Asset Management’s proprietary hedge funds.

As investment managers worldwide respond to increased regulation and a changing competitive environment, Citi can assist managers in extending and enhancing their operational capabilities so they can refocus resources on core asset management functions.

Citi provides complete investment services for institutional and alternative asset managers, delivering middle office, fund administration, global custody, and investing and financing solutions that are focused on its clients’ specific challenges and customized to their individual needs.

Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With $12.5 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi's local market expertise and global reach to extract value across the entire investment value chain.

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