Mason Stevens taps Citi for custody services
Mason Stevens has announced a partnership with Citi Securities Services for custody and funds administration services.
According to the firm, this came at a “significant time” as it looked to expand its offerings with the development of investment administration and managed account solutions.
“We are on a strong growth trajectory and are always looking to invest in new solutions to provide better investment outcomes for our clients. We are 100 per cent focused on what we do best and engaging partners, like Citi, to leverage their capabilities where we need to,” said Tim Yule, Mason Stevens’ chief executive.
He observed that the partnership with Citi as custodian would support its capability in accessing all major global markets. Currently, Citi Securities Services has some $26.2 trillion of assets under custody internationally.
Yule said: “We already have an existing relationship and system connectivity with Citi for [internationally] listed securities and trust this partnership will help better serve our valued client base”.
In February, the firm announced new additions to its investment team, with Andrew Ash as head of manager research and Lloyd Mitchell as head of fixed income.
Earlier this year, Vien Luong joined the firm as head of platform, alongside Tracy Southern’s appointment as head of technology.
Meanwhile, Citi Securities Services Australia had also seen significant expansion in recent years, particularly in the wealth platform and funds management sectors.
“With a great deal of experience honed over the past couple of years, Citi’s ambition is to provide certainty for clients by ensuring the onboarding process is simple and efficient — a singular focus we know that clients demand.
“Once onboarded, clients have access to our full range of investor solutions, as well as exceptional client support and market-leading expertise,” said Mark England, Citi Australia and New Zealand head of Securities Services.
AUTHOR
Rhea Nath
Recommended for you
Zenith Investment Partners has welcomed a BDM focusing on adviser solutions in a series of appointments, while two asset managers have also confirmed new hires.
AMP non-executive director Kathleen Bailey-Lord and Iress non-executive director Susan Forrester have been appointed to the national board of the Australian Institute of Company Directors.
Wealth manager JBWere has announced the launch of two fixed income strategies for wholesale clients, backed by UBS Asset Management.
Firetrail Investments has confirmed the departure of four executives over the last quarter, including head of investment strategy Anthony Doyle.
