Mirae Asset selects Citi as custodian
Korean asset manager Mirae Asset Global Investments has appointed Citi Australia as its provider of custody and fund administration services for its Australian traditional fund business.
Earlier this year, Mirae appointed former ETF Securities chief executive Kris Walesby as chief executive of its new Australian team.
Walesby said he was delighted to partner with Citi toward its strategy of growth in the Australian market.
“Mirae Asset Global Investments works closely with Citi in a number of markets globally, and we look forward to their support and enhanced infrastructure further enabling us to provide a quality experience for current and future investors in Australia,” he said.
Oliver Reynolds, chief operating officer, Mirae Asset Australia said: “We are expanding in Australia and our trusted partnership with Citi will enable us to successfully execute our expansion of products, across both passive and active investment solutions and grow our investor base”.
Martin Carpenter, Citi’s head of securities services in Australia, said Citi had been expanding its presence in Australia and increasing investment in its people and overall platform in the last couple of years.
“Having Mirae Asset Global Investments select Citi for their custody and fund administration needs is a validation of those efforts and we are honoured to be able to work with Mirae Asset Global Investments in Australia as we already do in a number of geographies,” Carpenter said.
AUTHOR
Liam Cormican
Recommended for you
Tribeca Investment Partners has made a distribution hire from Australian Ethical in a newly-created role focused on the national intermediary market.
Asset managers may be urged to diversify their product ranges, but investment executives have warned any M&A deal should avoid simply filling gaps and instead consider long-term value creation.
Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equity firm.
Fund managers are entering 2025 with the most bullish sentiment since August 2021 and record high allocations to US equities, thanks to the incoming Trump administration.
