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Announcement

Apex Group selects Citi as global custodian

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Citi has been awarded a mandate from fund manager Apex Group (Apex) to provide custody services to its global client base. The partnership between Citi and Apex will deliver integrated custody services and streamlined operational processes to Apex’s asset management clients.

With over USD21.3 trillion of assets under custody and administration1 and the industry-leading proprietary network spanning over 60 proprietary branches as well as agent banks in 106 markets, Citi’s custody business combines in-depth local market expertise with an extensive global platform to deliver consistent, scalable and flexible solutions that support clients’ most complex custody needs.
 
“Partnering with Citi to deliver custody services to our global client base will add great value to the Apex offering through the bank’s proprietary network and complementary global operational and service models. Citi’s institutional capabilities fit well with our ongoing growth trajectory and recently acquired banking and depositary services,” says David Rhydderch, Head of Regulated Product, Apex Group Ltd.
 
The Apex Group has offices across 40 locations worldwide and is the world’s fifth largest fund administrator with USD560 billion in assets under administration. The Group delivers a full range of services from fund administration and corporate services, to comprehensive middle office solutions, depositary services, and now custody services via its partnership with Citi.
 
“We are very pleased to have been selected by the Apex Group and look forward helping them achieve their impressive growth objectives,” saysSanjiv Sawhney, Global Head of Custody and Fund Services at Citi. “As we continue to build on the momentum of our custody platform, this mandate highlights our commitment to serve our clients across jurisdictions with an integrated custody model that delivers accuracy, risk mitigation, market intimacy and low latency, whilst driving operational efficiencies.”

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