Citi has taken on a larger role with financial services provider Sagicor Jamaica and will now offer fund administration, global custody and treasury services for Sagicor Investment Jamaica, Sagicor Sigma Funds, Sagicor Investments and the proprietary assets of Sagicor Bank Jamaica.
Prior to adding these additional services, Citi provided daily securities valuation, reconciliation, fund accounting, reporting and custody services for Sagicor Life Jamaica and Sagicor Life Cayman Islands.
“We are very pleased to extend our relationship with Citi for these additional assets,” said Ivan Carter, CFO, Sagicor Jamaica. “Citi’s local presence, proprietary global sub-custody network and proven expertise as a fund administrator were all important factors in our decision to expand our relationship further.”
“This new mandate from Sagicor is further evidence that managers in emerging markets, like the Caribbean, are increasingly recognizing the value of outsourcing investment services and treasury functions,” said Neeraj Sahai, global head, securities and fund services, Citi.
Citi Adds Fund Administration and Custody Services for Sagicor Jamaica
Citi has taken on a larger role with financial services provider Sagicor Jamaica and will now offer fund administration, global custody and treasury services for Sagicor Investment Jamaica, Sagicor Sigma Funds, Sagicor Investments and the proprietary assets of Sagicor Bank Jamaica.