Wed, Sep 17, 2014
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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Opalesque Exclusive: Old Hill Partners launches specialty finance fund[more]

    Bailey McCann, Opalesque New York: Asset-backed lending is starting to heat up again after a prolonged credit squeeze. The Financial Times reports that a record £18.9bn was borrowed from asset-based lenders in the three months to the end of June. Much of this lending is driven by advanc