Citi has expanded its OpenWealth solution to enable global wealth managers to manage trust accounts and cross-border investments on a single platform. Citi Private Bank, the banks trust and private banking arm, will use OpenWealth services for its trust administration, custody and mutual fund clearing services for its North America and Latin America businesses.
Dena Brumpton, chief operating officer, Citi Private Bank said: “OpenWealth provides the flexibility and real-time information that will enable us to deliver a high level of service and innovation to our clients.”
Chandresh Iyer, managing director, Citi Investor Services added: “The Private Bank’s selection validates OpenWealth as a best-in-class solution for today’s global requirements. We are certainly pleased to be able to expand our services to one of the most respected names in private banking, as well as use the additional scale to the benefit of all our clients.”
(JDC)