Eksportfinans, the Norwegian export credit agency and municipality financing institution, appointed Citi as its global and US direct custodian for roughly $12 billion of assets.
“Eksportfinans, an Aaa/AA+/AAA rated institution in Norway, has worked closely with Citi for over 30 years. Our existing local relationship with Citi combined with their strong links to the US markets is important to us. Their ability to develop a competitive, comprehensive custody and liquidity solution quickly enabled us to streamline our operational procedures and improve the reporting and liquidity management process for our securities investment portfolio,” says Tor Johansen, president and CEO, Eksportfinans.
“We are pleased to extend our relationship with Eksportfinans with this landmark transaction. This announcement exemplifies Citi’s commitment to working closely with our clients to develop solutions that meet their changing financial needs in over 100 markets where we operate,” adds Malcolm Butler, head of investor services in Europe, Middle East and Africa, Citi’s Global Transaction Services business.