Citi has been appointed custodian of the Nationwide Building Society’s assets held in Euroclear and DTC. Assets migrated from the U.K. lender to Citi were worth over £10 billion.
Citi is providing custody services through its Securities and Fund Services London global window. Its one-stop services include transaction settlement, safekeeping, administration and reporting of global investments.
“We already use Citi for cash management processing, issuing and paying services which are critical functions required by the Treasury Division in the management of Nationwide’s assets and liabilities … The streamlining of service provision will improve Treasury Operations efficiency,” added Paul Gould, head of Operations and Strategic Development, Nationwide Treasury Division.
Citi Provides Custody Services For Nationwide
Citi has been appointed custodian of the Nationwide Building Society's assets held in Euroclear and DTC. Assets migrated from the U.K. lender to Citi were worth over £10 billion.
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