BNY Mellon, Citi, and State Street take part in initiative designed to transform and automate the current capital markets infrastructure.
Citi has centralised the management of big projects in different parts of the bank under a new ‘Project Management Office’.
With some of the world's largest ETF issuers launching new semi-transparent products, custodians and fund administrators are in a unique opportunity to bridge the gap between the active and passive investment community.
The appointments are the latest in a series of senior leadership changes for Citi’s global securities services business.
Citi has made a number of recent moves to expand its sub-custody network over the past year with new businesses in Finland, Norway and Saudi Arabia.
The new business expands Citi’s existing relationship with Tuttle Tactical Management to include its new Trend Aggregation range of ETFs.
Citi said in an internal memo the changes to its equities and securities services unit will “allow for greater focus and accountability.”
Proxymity is now backed by a consortium of global custodians, custody banks and issuer agents including BNY Mellon, Clearstream, Deutsche Bank, HSBC, JP Morgan, and State Street.
HSBC Securities Services hires former Citi and JP Morgan veteran to lead asset manager and asset owner sales and client managemet.