Citibank Global Securities Services announced today that it has been appointed custodian for Britannic Group’s $18 billion in life funds. Britannic, which has had a relationship with Citibank since 1995, transferred a total of $13 billion to Citibank as a result of the appointment.
Commenting on the appointment Robert Binney, Managing Director and head of European Sales for Citibank Global Securities Services, said, “We are gratified to be chosen by Britannic as custody provider for its life funds. This vote of confidence reflects our global focus on consistently delivering outstanding service while developing innovative products and services that meet the evolving needs of our investor clients.”
Citibank recently topped the $5 trillion mark in assets under custody.