Citi Wins Fund Administration and Custody Mandate from Pacific Asset Management

DUBLIN--(BUSINESS WIRE)-- Citi has been selected by Pacific Asset Management (PAM), the asset management arm of the Pacific Investments Group, to provide full fund administration and custody services for its Dublin-registered UCITS funds.

As part of the mandate, Citi will provide fund administration, depositary, custody, clearing and foreign exchange solutions.

Paul McLernon, COO of PAM said: “Before continuing with our growth plans, it was important that we identify the right strategic partner, one that could provide us with a strong operational backbone for our diversified range of UCITS funds and work with us on creating solutions to adapt to new regulation and client needs.”

With over $20.6 trillion of assets under custody and administration 1 and the industry-leading proprietary network spanning over 60 markets, Citi’s Custody and Funds Services business provides clients with in-depth local market expertise, advanced processing technologies and a wide range of fund services that can be tailored to meet clients’ needs.

“As we continue to invest in our platform across the full spectrum of custody and fund services, we are delighted to add Pacific Asset Management as a new client and look forward to supporting the expansion of their UCITS funds,” said Matthew Bax, EMEA Head of Sales for Custody and Fund Services at Citi.

Citi has had a presence in Ireland since 1965 and was one of the first foreign banks to open an office in the country. Citi is one of the largest employers in Dublin’s International Financial Services Centre (IFSC) and employs over 2,500 people today across banking, fund administration, custody, trustee services, transfer agency and shareholder services.

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About Pacific Asset Management.

Pacific Asset Management (PAM) is the core asset management business of the Pacific Investments Group. Firmly established within the global business infrastructure of Pacific Investments, Pacific Asset Management is able to take a modern, unbiased approach to investing.

PAM hired Matthew Lamb as CEO in late 2016. They launched a range of risk rated blended multi-asset funds investing across active, passive and smart-beta strategies.

Paul McLernon was hired as COO in late 2017. PAM continued to expand its investment capabilities, by launching a value focused emerging markets single strategy in 2017 and a G10 macro rates strategy set for launch in Q1 2019.

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://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

1 Q4 2018

View source version on businesswire.com: https://www.businesswire.com/news/home/20190222005250/en/

Media Contacts:
Capucine Boncenne
+44 207 508 9355
[email protected]

Source: Citi

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