New mandate strengthens Citi’s ties with Aegon 20 December 2018London Reporter: Rebecca Delaney
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Citi has been appointed by Kames Capital UK Funds, a branch of Aegon Asset Management, to provide depositary services, representing £7 billion in assets.
Kames Capital is an investment management business with experience in providing financial services for pension funds, wealth managers, financial institutions and individuals.
Citi’s custody and fund services division provides clients with specialist services, local market knowledge and sophisticated processing technologies.
The existing relationship between Citi and Aegon will be widened to cover Kames Capital’s Ireland and Netherlands depositary services, fund ranges and agency securities lending services, as well as a range of other services currently available.
Commenting on the mandate, global head of trustee and depositary services at Citi David Morrison said: “We are delighted to have won this mandate from Kames Capital and further extend our relationship with such an important strategic partner.”
“We value the trust they place in us, not only for depositary services but also across the wide range of services used within our prime, futures and securities services franchise.”
Head of investment support (Europe) for Aegon Ross Bradley, added: “The move to a single provider for depositary services is an important milestone for Kames Capital and our clients.”
He continued: “It allows us to benefit from Citi’s leading platform and achieve greater consistency in our operating model while enhancing the investor experience across all of our EU funds.”
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