Federated Investors has expanded its contract for use of OpenSMA and CitiConnect, Citi’s platforms serving separately managed accounts (SMA) investment managers. As part of this expansion, Citi will support Clover Investment Advisors, a Federated subsidiary. Clover provides managed accounts to leading sponsors and distributors through various equity and balanced portfolios. Citi has been delivering SMA services to Federated since 2006.
“We have been very pleased with the quality of service Citi has provided for our SMA business, which is a key product line of our firm,” said Anne Kruczek, head of investment management administration and operations, Federated Investors. “In addition to the level of service, we continue to be impressed with the leading-edge capabilities of Citi’s OpenSMA offering and intend to migrate Clover’s SMA business to OpenSMA. We are particularly enthusiastic about the efficiencies of the OpenSMA fixed income application as it relates to expanding the flexibility of our balanced offering. Through its characteristic-based modelling features, we can expand our ability to support balanced SMAs in a more automated fashion and without increasing portfolio management staff.”
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.