Man Group has finalized the terms of an agreement with Citi Global Transaction Services Securities and Fund Services division to become Mans global shareholder services partner. Under the terms of the agreement Citi will perform global shareholder and transfer agency services for AHL and Man multi-manager private investor products, which are distributed globally through Mans network of approved intermediaries and distribution partners.
Citi will begin at the end of March and a joint project will then follow to enhance services to Mans funds, simplify administration arrangements and migrate all of Mans private investor products onto Citis platform. Man and Citi will adopt a phased approach to this program of work.
Simon White, head of product and client operations at Man, comments, Our decision to award a new brief to Citi will help us achieve our goals of having fully independent fund administration and transfer agency services, thereby creating a scalable global platform for our future business.
Citi has been chosen based on its proven expertise, unrivaled global presence and demonstrable track record of service delivery for private investor operations. Both Citi and Man are committed to maintaining and improving the excellent client service levels that we have worked so hard to achieve.
Richard Ernesti, global head of Investor Client Sales Management at Citi Global Transaction Services said, “It is a privilege to have been selected by Man Group to become their global shareholder services provider. The appointment reflects their confidence in the strength of our alternative fund administration business and we are pleased to be setting out on what promises to be a long-term strategic relationship with Man.”