Citco Bank has now topped the $250 billion mark for assets under custody.
Over the last 13 years, Citco Bank has benefited from increasing institutional interest in hedge funds as well as growing acceptance in the marketplace of the benefits of outsourcing, it said in a statement.
“Back in 1994, we identified an opportunity in the mutual and hedge fund market for custody and fund trading services,” says Willem Holst, managing director of Citco Bank. “Financial institutions and funds alike faced increasing administrative burden as they grew their trading activities. In response, Citco Bank developed a range of services to alleviate clients’ administrative burdens, providing them with an integrated service platform across banking and custody, tailored to their needs.”