Pacific Income Advisers (PIA) has expanded its relationship Citi with a new five year mandate to deliver full business process outsourcing (BPO) services from one unified platform for the investment advisory firm’s institutional accounts in addition to retail managed accounts with a total of US$3.5bn in assets. These additional responsibilities complement the retail separately managed account services Citi has been providing through its OpenSMA platform since 2005.
“During our long relationship, Citi has supported our growth by allowing us to concentrate on what we do best – develop our business, manage our investment portfolios and deliver superior service to our clients,” said Tim Tarpening, executive vice president, PIA. “Using Citi’s OpenSMA we can manage all our asset classes from one single platform. In addition to significant savings resulting from the elimination of disparate in-house systems, Citi’s order management system dramatically expands our ability to scale our fixed income account volumes using bond characteristic based modelling. It makes our capacity virtually unlimited.”
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