Citibank Wins $30 billion Pioneer Mandate

Citigroup Global Securities Services announced today that it has been appointed the global custodian and fund administrator for more than $30 billion of mutual fund assets managed by Pioneer Global Asset Management, the US fund manager owned by Unicreddito Italiano.

By None

Citigroup Global Securities Services announced today that it has been appointed the global custodian and fund administrator for more than $30 billion of mutual fund assets managed by Pioneer Global Asset Management, the US fund manager owned by Unicreddito Italiano. The assets are held in 42 funds across 412 share classes, based in Luxembourg.

“We are extremely pleased to have been chosen by such a high quality, fast growing, investment company as Pioneer Investments and look forward to developing a long-term partnership moving forward,” says Robert Binney, Managing Director and Head of European Sales for Global Securities Services. “This mandate reflects our strategic focus on serving the custody and fund administration needs of mutual funds worldwide, and combination of customized service, technology and product offerings.”

Angus Stening, Executive Vice President of Operations for Pioneer Investments added: “After conducting an extensive due diligence process, we are delighted to have selected Citigroup for our global custody and funds administration. Pioneer Investments is a dynamic business, with a growing client base around the globe. Citigroup is able to achieve our standard for quality service and meet the demands of our rapidly expanding business base now and into the future”.

Founded in 1928, Pioneer Investments now manages over $111 billion in assets worldwide. Its flagship fund, the Pioneer Fund, claims to be the fourth oldest mutual fund in the United States. Pioneer Investments has been in Europe for over 30 years and offers a wide range of investment products domiciled in Luxembourg and Ireland through a broad range of distributors from financial advisors to bank and insurance networks.

«