Citi has continued its long running relationship with Equiniti after being appointed to manage the group’s international payments services.
The deal will see Citi make multiple product offerings such as overseas pension payments, shareholder payments through Equiniti’s financial services business as well as supporting international payments.
Rajesh Mehta, Head of Citi Treasury and Trade Solutions said, “We have built a strong relationship with Equiniti over the years. We know the business and we have a good understanding of how to support their growth.”
As a result of the partnership extension, Equiniti, whose clients include 70 companies listed in the FTSE 100, will become Citi’s technology vendor in Europe, Middle East and Africa.
Furthermore, Citi’s Treasury and Trade Solutions will work together with their foreign exchange local markets group giving Equiniti the benefit of Citi’s global capabilities that include payments in over 130 currencies and foreign exchange access in over 400 currency pairs.
Guy Wakeley, Chief Executive, Equiniti said, “Through Citi’s unrivalled payment reach as well as its global footprint, we have been able to enhance and extend the range and flexibility of services that we offer to clients.”