Citi Global Transaction Services has been awarded a new mandate by the online trading and investment specialist Saxo Bank Group to provide global custody services for cash equities and fixed income instruments.
The mandate will include the provision of settlement, safekeeping and assets servicing. Danish-based Saxo Bank Group will also have access to Citi's full suite of securities services and cash management capabilities.
Tom Isaac, head of intermediaries client sales management, Citi Global Transaction Services, said, "Citi is extremely pleased to be providing global custody services to Saxo Bank, a highly successful, fast growing internet based broker dealer specialised in trading multiple asset classes for retail, high net worth individuals and partner banks. Our custody services offer exceptional execution, global consistency and local market expertise in 92 markets. This win highlights our continued commitment to provide clients with innovative, steadfast and state of the art solutions and creates an opportunity to foster a long-term strategic partnership with Saxo Bank."
Claus Nielsen, head of markets, Saxo Bank, said: "We already have a close collaboration with Citi and look forward to expanding it even further. We need a strong partner like Citi as we move ahead with strengthening our global footprint and widening the scope of our product offerings. Citi can help us with our growth objectives by offering innovative and effective solutions in accordance with our requirements. For Saxo Bank, this is a unique opportunity to expand our global custody services for the benefit of our existing and new clients."
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