Kuwait appoints Citi as preferred custodian 06 June 2018Kuwait Reporter: Maddie Saghir
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The Kuwait Investment Authority (KIA) International Equities business has reappointed Citi as its preferred custodian.
Citi provides global custody and portfolio administration including performance compliance, risk reporting, and agency securities lending solutions.
Citi was one of the first foreign banks to set up a branch in Kuwait offering corporate and investment banking services.
For more than 30 years, Citi has developed strong relationships with Kuwait’s financial institutions and top corporations.
Historically, Citi served its institutional clients in Kuwait from its regional headquarters in Bahrain, Dubai, and London.
Okan Pekin, global head of prime, futures, and securities services at Citi, commented: “We have been honoured to retain and grow this mandate building on our long-lasting relationship with KIA.”
Pekin continued: “This appointment is reflective of Citi’s commitment as a trusted partner to KIA, and highlights our ability to leverage Citi’s unique market access to meet our clients’ evolving needs across products, solutions and geographies.”
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