Aetna, one of the US’ leading diversified health care benefits companies, has selected Citi to provide securities lending services through its OpenLend platform.
As part of a suite of investment services delivered through Citi OpenInvestor, OpenLend delivers an open architecture securities lending solution that leverages Citi’s global presence, risk management controls and trading strategies to help clients achieve their performance objectives.
“We are delighted to expand Citi’s long relationship with Aetna with this securities lending mandate,” said David Martocci, head of securities finance, securities and fund services, Citi. “We are pleased that Aetna recognised the value of our third-party securities lending expertise and our commitment to providing exceptional client service. The success of our OpenLend product is centred on providing customised solutions for our clients. We look forward to helping Aetna with its securities lending programme.”
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.
The central bank has tweaked its stimulus programme and is making a fresh effort to push Japan’s inflation rate above its 2% target.
A total of US$4.88 trillion of debt has been sold so far this year reports Dealogic, close to the level of 2007 when US$4.91 trillion of bonds were issued over the same period.