Citigroup has been awarded a mandate to provide global custody services to KommuneKredit, the credit institution for local and regional governments in Denmark.
Citi already manages KommuneKredits multicurrency accounts and provides issuing and paying services for KommuneKredits bonds.
“We are extremely pleased by KommuneKredits decision to consolidate their global transaction services with Citi, says Andrew Gelb, head of Securities and Funds Services for EMEA at Citi. This further appointment confirms the strength of our long-term relationship with KommuneKredit and demonstrates their confidence in our investor services capabilities.”
Jens Bloch Behrendt, CFO at KommuneKredit, adds: “We look forward to deepening our relationship with Citi and leveraging their global footprint as well as their regional expertise to meet our needs. This appointment strengthens our operational efficiency and also reduces our operational risk by enabling us to access our international business flow via a single platform.”
(CG)