Citi has announced that its global custody, fund accounting and fund administration solution for Fonds de Compensation de la Sécurité Sociale is live and a part of the assets have been successfully migrated onto Citi’s global funds administration and custody platforms in Luxembourg. Citi was appointed by the Fonds de Compensation du régime general de pension through a public tender process. Citi is ranked among the five largest fund services providers in Luxembourg with approximately US$150bn of assets under administration for over 100 individual distributors who distribute funds in over 50 countries. Citi services Luxembourg domiciled traditional funds, alternative funds, exchange-traded funds, pension funds and structured funds in the country.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.