Sun, Aug 2, 2015
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. Opalesque Exclusive: Despite bumpy June/July, CTAs hold on[more]

    Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday,

  2. Investing - Hedge fund billionaires bet on London as revival gathers pace[more]

    From Bloomberg.com: London’s fund industry is bouncing back, and U.S. billionaires Steven A. Cohen and Ken Griffin are grabbing a piece of the action. Griffin’s Citadel and Millennium Management, a hedge fund run by Israel Englander, have bulked up in London, where asset growth is outpacing the U.S.

  3. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  4. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

  5. Cargill’s Black River Asset to shut down four hedge funds[more]

    Komfie Manalo, Opalesque Asia: Cargill Inc.’s $7.4 billion Black River Asset Management said it was closing four hedge funds with a combined $ 1 billion in assets and start returning investors money over the next several months, various media said. The hedge funds represent 15% of Black River’

 

banner