Tue, Aug 30, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Citi opens 2010 with a string of launch, appointment and sell-off

Tuesday, January 12, 2010
Opalesque Industry Update - Citigroup has greeted the New Year with a series of launches, appointments and sell-off as it expressed confidence in facing the challenges of 2010.

According to a report by TheTradeNews.com, Citi this week launched a full-service solution for Europe-based hedge funds to satisfy the increasing demand for the bank’s clients to open hedge funds in the EU. The servicing solution will also build upon the bank’s existing front-, middle- and back-office solutions for hedge funds.

The report quoted Andrew Gelb, head of securities and fund service, EMEA, Citi, as saying, “Investors are now focused on governance, risk management, independent valuation and transparency of reporting. Hedge fund managers are increasingly offering UCITS and other EU domiciled fund structures to meet these needs as the industry continues to converge across the alternative and traditional fund sectors.”

Also this week, Citi announced the appointment of Manuel Medina-Mora as chief executive officer of Citi Consumer Banking for the Americas and Chairman of Citi’s Global Consumer Council. Medina-Mora will oversee Citi´s retail branch network.

Earlier this year, City sold its foreign exchange platform LavaFX to FXall.

FXall’s acquisition of LavaFX would ensure that its institutional client base would grow to nearly 1,000 of the world's largest hedge funds, CTAs, banks, broker-dealers, corporate treasurers and asset managers and adds capabilities to give clients an edge at every phase of the transaction life-cycle. - PD -

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. Strategies - The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I, Hedge funds get more pushback on terms as enthusiasm for strategy wanes[more]

    The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I From IBTImes.co.uk: To illustrate a strategic gap common to today's portfolio managers, George Sokoloff, PhD, founder and CIO at Carmot Capital, proposes an interesting thought experiment – a breakdown of

  2. Institutional investors - Investors set to increase allocation to private debt, With investment income key, Richmond retirement system faces funding challenges[more]

    Investors set to increase allocation to private debt Investors are set to increase their allocation to private debt, with 60% revealing they believe the private debt market will grow over the next 12 months, according to a new study by Elian, a leading funds services provider. 41%

  3. Investing - Hedge funds snap up banks, unload Apple, Some of hedge funds' favorite stocks are finally starting to beat the market, Einhorn's Greenlight shifts positions, Treasury yield climbs to two-month high as Fischer joins hawks, 9 stocks smart investors put their money in last quarter[more]

    Hedge funds snap up banks, unload Apple From Barrons.com: Prominent hedge funds have a newfound love of big banks, and some have a distaste for shares of Apple, regulatory filings released last week show. The filings suggest that the funds have been pivoting their portfolios in recent mon

  4. Chesapeake energy seeks $1 billion loan to refinance debt[more]

    From Bloomberg.com: Chesapeake Energy Corp. is seeking a $1 billion loan as the company battered by cratering fuel prices and credit downgrades takes a step to address its $9 billion debt load. The natural gas producer hired Goldman Sachs Group Inc., Citigroup Inc. and Mitsubishi UFJ Financial Group

  5. Institutions - Nordic pension funds magnify focus on unlisted and direct investing, building up teams[more]

    From IPE.com: As bond yields remain at low or negative levels, pension funds and other institutional investors in the Nordic region are stepping up efforts to find higher returns by adding more unlisted investments to portfolios and are expanding in-house teams in order to do this, according to new