Citi Expands Trust Administration and Custody Services to Global Wealth Managers

  Citi Expands Trust Administration and Custody Services to Global Wealth
  Managers

Business Wire

NEW YORK -- November 15, 2012

Citi has expanded its award-winning OpenWealth^(R) solution to enable global
wealth managers to manage trust accounts and cross-border investments on a
single platform. Citi Private Bank will use OpenWealth services for its trust
administration, custody and mutual fund clearing services for its North
America and Latin America businesses.

“After a thorough review of the market, we selected OpenWealth for its modern
technology and its fully integrated global capabilities,” said Dena Brumpton,
Chief Operating Officer, Citi Private Bank. “OpenWealth provides the
flexibility and real-time information that will enable us to deliver a high
level of service and innovation to our clients.”

With roots dating to 1822, Citi Private Bank has a long heritage of providing
fiduciary services and continues to be a leader in trust and private banking.
Today, Citi continues to meet the unique requirements of the world’s
wealthiest clients by offering sophisticated estate-planning strategies,
fiduciary and investment management services, and an open investment platform
that provides access to top-tier third-party investment managers.

"Citi Private Bank is one of the largest and most global organizations to use
OpenWealth’s integrated Trust and Custody solution”, said Chandresh Iyer,
Managing Director, Citi Investor Services. “The Private Bank’s selection
validates OpenWealth as a best-in-class solution for today’s global
requirements. We are certainly pleased to be able to expand our services to
one of the most respected names in private banking, as well as use the
additional scale to the benefit of all our clients.”

With $47 billion under administration, Citi is a leading provider of wealth
management platforms and services that ease operational and administrative
burdens through end-to-end portfolio management, rebalancing, trading,
reporting, trust administration and global custody capabilities. Citi’s full
suite of investment services solutions delivered through Citi OpenInvestor^SM
lets wealth managers focus on building relationships and growing their
business.

Citi OpenInvestor is the investment services solution for today’s diversified
investor that combines specialized expertise, comprehensive capabilities and
the power of Citi’s global network to help clients meet performance objectives
across asset classes, strategies and geographies. Citi OpenInvestor provides
institutional, alternative and wealth managers with middle office, fund
services, custody, and investing and financing solutions that are focused on
their specific challenges and customized to their individual needs. For more
information, visit openinvestor.transactionservices.citi.com

Citi Transaction Services, a division of Citi’s Institutional Clients Group,
offers integrated cash management, trade, and securities and fund services to
multinational corporations, financial institutions and public sector
organizations around the world. With a network that spans more than 95
countries, Citi’s Transaction Services supports over 65,000 clients. As of the
third quarter of 2012, it held on average $415 billion in liability balances
and over $12.8 trillion in assets under custody.

Citi Private Bank advises the world’s wealthiest, most influential individuals
and families and has relationships with a third of all billionaires. Its
network consists of over a thousand private bankers and investment
professionals across 46 countries and jurisdictions. Citi Private Bank offers
clients products and services covering capital markets, managed investments,
portfolio management, trust and estate planning, investment finance, banking
and art, aircraft and sports advisory and finance.

About Citi:

Citi, the leading global bank, has approximately 200 million customer accounts
and does business in more than 160 countries and jurisdictions. Citi provides
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, transaction services,
and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi |
YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook:
www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

Contact:

Citigroup Inc.
Media:
Nina Das, 212-816-9267
nina.das@citi.com
 
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