Citi secures SIX custody mandate

Citi has been awarded a mandate from SIX Securities Services to provide custody services for $230 billion of assets.

As part of the mandate Citi, which currently delivers custody services to 106 markets, will provide custody and clearing services, associated mutual fund processing and tax servicing for the US market.

This builds on the existing association between Citi and post-trade services provider SIX which currently includes fourteen markets outside the US.

“This mandate is a testament to the talent of our custody teams and our ability to support both investor and intermediary clients,” said Sanjiv Sawhney, global head of custody and fund services at Citi.

“We are very pleased to have been selected by SIX Securities Services to provide custody services and to expand our relationship.”

Thomas Zeeb, CEO, SIX Securities Services said “SIX Securities Services demands the high levels of operational efficiency and transparency that Citi provides.

“This strengthened relationship will help us provide a strong and reliable environment for our customers and receive the high standard of service that they have become accustomed to through SIX.”