Prime brokers are now stepping up their due diligence of hedge funds, becoming more forensic when looking to bring a hedge fund onto their balance sheet.
The custodial membership will allow Euroclear to provide settlement and asset services through a direct account with the Israeli CSD.
The c0-head of Citi’s Americas prime finance business has left after two years with the US bank.
The new division is the latest in a string of restructuring moves in recent months as Citi looks to streamline its businesses.
Results were partially offset by increased client activity, as assets under custody increased by over 5% to $25.5 trillion.
Following the launch in the UK last year, Citi's Proxymity has processed over $22.5 billion worth of shares during UK shareholder meetings.
Sub-custodians are now forced to adapt their businesses to accommodate the competition posed by Investor CSD models.
Clearstream has partnered with Citi to act as its local account operator giving Ukrainian government bonds access to its ICSD network.
Former Citi and JP Morgan fund services head joins rapidly-growing team at Intertrust.