Citi gets HLB mandate
11 October 2011 New York
Image: Shutterstock
Citi Securities and Fund Services has announced that it has been appointed to provide a comprehensive range of custody and portfolio administration services to the Federal Home Loan Bank of New York (HLB).
Additionally, the HLB will utilise Citi’s proprietary platform to deliver white-labeled settlement and safekeeping services to its member banks. Citi will also provide portfolio accounting for HLB’s
proprietary investment assets.
“Citi’s scale and robust technology platform will allow us to deliver advanced custody services while
helping us to create efficiencies and reduce operational risk,” says Paul Héroux, SVP and head of Member Services at HLB.
Additionally, the HLB will utilise Citi’s proprietary platform to deliver white-labeled settlement and safekeeping services to its member banks. Citi will also provide portfolio accounting for HLB’s
proprietary investment assets.
“Citi’s scale and robust technology platform will allow us to deliver advanced custody services while
helping us to create efficiencies and reduce operational risk,” says Paul Héroux, SVP and head of Member Services at HLB.
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