Citi Launches OpenAi to Streamline Operational Management for Alternative
NEW YORK -- April 22, 2013
Citi has launched OpenAi, a specialized range of information delivery and
reporting technology to support the delivery of leading solutions for Citi’s
alternative investment clients. OpenAi will enable alternatives managers
around the world to be more efficient, invest in a more effective manner, and
help better manage operational risk.
In an environment of expanding regulatory oversight, demand for greater
transparency, increasing competition and operational complexity, having access
to key portfolio data and exposures across multiple counterparties, fund
structures and geographies is critical.
Built on an integrated data management model, OpenAi connects clients’ trading
platforms seamlessly to Citi’s processing systems, third-party providers,
prime brokers and market data sources, and gives them direct access to
operational workflow throughout the service lifecycle. With OpenAi,
alternatives managers have process and data visibility along with
visualization tools to view and customize data online in real time, and access
through mobile devices.
“Operating an alternative asset management business today requires
substantially more resources to compete than previously,” said Mike
Sleightholme, Global Head of Hedge Fund Services, Citi. “Citi’s DNA is
embedded in our services business and allowed our team to build a
comprehensive solution to enable our clients to navigate this new landscape
and support the delivery of operational alpha. Institutional investors today
are demanding more transparency and visibility and through Citi OpenAi our
clients have access to key aspects of operating an alternatives business in
one web-based platform.”
With over $482 billion of alternative assets under administration globally,
Citi is a leading provider of investment services that help hedge fund
managers ease operational and administrative burdens. Citi’s full suite of
solutions delivered through Citi OpenInvestor lets alternative fund managers
focus on building relationships and growing their business.
OpenAi shares the benefits and features that are critical to operating in this
• Direct Access — Users connect through a single point of entry, streamlining
and consolidating access to portfolios and account data, process workflow,
third-party providers and market utilities.
• Flexibility — Market participants label, sort and organize data to suit
specific portfolio management, investment reporting and client service needs.
Solutions are tailored to help match client objectives, and scaled to grow
with their businesses.
• Visibility — OpenAi gives investment, administrative, compliance and risk
management teams real-time, web-based access to operational workflow,
transaction status, and investor and portfolio data.
• Integrity — Information is input to and distributed from a centralized data
warehouse to provide greater data integrity, help reduce operational risks,
increase downstream processing efficiency and accuracy, and enhance reporting
• Complete Connectivity — OpenAi offers agnostic and seamless connections to
global providers — prime brokers, trading platforms, clearing houses,
custodians and fund accountants — as well as tight integration with Citi’s
extensive administrative and operational resources and global banking network.
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’s Transaction Services
comprises Securities and Fund Services and Treasury and Trade Solutions, and
is an integral part of Citi’s Institutional Clients Group. Transaction
Services 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 97
countries, Citi’s transaction services supports over 75,000 clients. As of the
first quarter of 2013, transaction services held on average $415 billion in
liability balances and$13.5 trillion in assets under custody.
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:
Nina Das, +1 212-816-9267
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