Citi (C) Wins Mandate to Provide Admin. Services of Alternative Investment Assets for Credit Suisse's Asset Management Unit

Citi (NYSE: C) today announced an agreement with Credit Suisse’s (NYSE: CS) Asset Management division to provide a comprehensive suite of middle office, custody and hedge fund administration services to support a portion of its US-based Alternative Investments business.

As part of the mandate, a portion of the middle office operations within Credit Suisse’s Asset Management division will be fully transitioned onto Citi’s service platform, which includes operations, technology and data management capabilities. “We are pleased to demonstrate the value of our expert staff and leading technology to Credit Suisse’s Asset Management division,” said Mike Sleightholme, Head of Global Hedge Fund Services, with Citi’s Global Transaction Services.

In addition to middle office solutions, Citi will provide custody and back office support for Credit Suisse Asset Management’s proprietary hedge funds.

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