Citi has renewed its contract with Victory Capital Management to provide administration and accounting services, as well as its mandate with Victory Funds to provide global custody and transfer agency.
Victory Capital Management, an investment management firm with $22.7 billion AuM as of April 30, has a long-standing relationship with Citi.
The contract between the two firms was last renewed in December 2009.
“Over the course of our association, we have developed an extraordinarily strong working relationship with Citi,” says David Brown, co-CEO of Victory Capital Management. “As our fund business and portfolios have grown, our servicing requirements have expanded and become more complex. Citi has delivered an increasingly broader suite of services the right solutions at the right time to support our investment strategy.”
“Victory Capital is an innovative firm, seeking new and better ways to achieve shareholder satisfaction and growth opportunities,” says Bob Wallace, head of Securities and Fund Services at Citi North America. “Our goal is to bring the best of Citis global network to our clients, supporting innovation in a flexible and cost-effective way. Were pleased that Victory has decided to renew its relationship with us, and we look forward to meeting their needs both now and well into the future.”
(OS)