Citibank Global Securities Services announced today that AXA Investment Managers has expanded its relationship with the bank to include acting as Depository Bank and Administrator for their Luxembourg funds.
Citibank already administers AXA World Funds I, and will now be fund services provider for AXA World Funds II and AXA’s new MultiManager range of funds, bringing the total of funds under depositary and administration at Citibank to Euro 2.8bn.
Jean-Louis Laurens, Global Head of Sales and Marketing and Managing Director for AXA Investment Managers, said “We have chosen Citibank for their service quality and for their combination of local know-how and global reach.”
Commenting on the appointment Robert Binney, Managing Director and head of European Sales for Citibank Global Securities Services, said, “We are gratified to be chosen as AXA’s fund services provider for its Luxembourg funds. This vote of confidence reflects our global focus on consistently delivering outstanding service and a high level of cross border co-ordination, while developing innovative products and services that meet the increasingly sophisticated needs of our investor clients.”