Citi selected by Diamond Hill to provide global custody
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Citi selected by Diamond Hill to provide global custody 12 September 2011New York Reporter: Justin Lawson
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Citi today announced that it has been mandated by Diamond Hill Capital Management, Inc. to provide a range of investor support services for the firm's fund assets totalling $4 billion.
"We selected Citi because they offer a rare combination of global perspective and local on-the-ground presence, as well as the ability to structure and scale solutions to meet our specific needs," said James Laird, chief financial officer, Diamond Hill Capital Management, and president of Diamond Hill Funds. "In making the decision to move our business to Citi, we were impressed by Citi's understanding of our day-to-day challenges and the value they place on fitting seamlessly into our operations with a consolidated service model."
The scope of services Citi is providing to Diamond Hill includes fund administration, accounting, transfer agency, global custody, and securities lending. Citi's fund operations are located in Columbus, Ohio, which is also headquarters for Diamond Hill.
"We are extremely pleased that Diamond Hill chose Citi," added Joseph Rezabek, managing director, Citi's Fund Services, North America. "As a boutique-style service partner, Citi will draw on years of practical experience to deliver solutions focused on the specialized needs and objectives of Diamond Hill, while leveraging the depth and breadth of our global network."
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