Citi expands trust and custody to wealth managers 16 November 2012New York Reporter: Georgina Lavers
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Citi has expanded its OpenWealth solution to enable global wealth managers to manage trust accounts and cross-border investments on a single platform.
Citi Private Bank will use OpenWealth services for its trust administration, custody and mutual fund clearing services for its North America and Latin America businesses.
“After a thorough review of the market, we selected OpenWealth for its modern technology and its fully integrated global capabilities,” said Dena Brumpton, COO at Citi Private Bank.
"Citi Private Bank is one of the largest and most global organisations to use OpenWealth’s integrated trust and custody solution”, said Chandresh Iyer, managing director of Citi Investor Services.
“The private bank’s selection validates OpenWealth as a best-in-class solution for today’s global requirements. We are certainly pleased to be able to expand our services to one of the most respected names in private banking, as well as use the additional scale to the benefit of all our clients.”
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