Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

12438

Citi to acquire ING’s custody and securities services business in Central and Eastern Europe

RELATED TOPICS​

Citi Securities and Fund Services is to acquire ING’s custody and securities services business in seven Central and Eastern European (CEE) markets currently representing EUR110bn in assets under custody.

 
ING is a provider of custody services in CEE, offering services to many of the world’s largest financial institutions.
 
The transaction, which is subject to regulatory approval and clearances, includes ING’s local custody and securities services businesses in Bulgaria, the Czech Republic, Hungary, Romania, Russia, Slovakia and Ukraine. Once implemented, the addition of Bulgaria will extend Citi’s custody network coverage to over 95 markets and its proprietary custody network will be expanded to 62 markets.
 
The acquisition enables Citi to offer investors, intermediaries and issuers securities services in the region through a strengthened country presence combined with access to Citi’s global banking network. The transaction will also provide clients with further processing efficiencies and enable consistency of service across multiple markets. Terms of the deal were not disclosed. Subject to standard closing conditions and regulatory approvals, Citi and ING expect this transaction to close in the first quarter 2014.
 
“With this acquisition, Citi has further strengthened its franchise in six important markets and has added Bulgaria to its proprietary network. We are now even better positioned to serve local and global investors, intermediaries and issuers with the best access, insight and expertise in the region,” says Sanjiv Sawhney, EMEA head of securities and fund services, Citi. “We look forward to delivering the same level of exceptional service that ING has given its clients in the CEE region.”
 

Latest News

EFAMA has commented on today’s vote by the European Parliament in favour of a new..
Morgan Stanley Investment Management (MSIM) has announced the launch of the MS INVF Systematic Liquid..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins..

Related Articles

Juan Nozal, Mapfre Asset Management
Juan Nozal, Fixed Income Portfolio Manager at MAPFRE Asset Management, talks about the outlook for fixed income assets over 2024, in what he predicts will be an outstanding year for this asset class...
Juan Nozal, Fixed Income Portfolio Manager at MAPFRE Asset Management, talks about the outlook for fixed income assets over 2024,..
n response to the increased attention to climate change risk, institutional investors, asset managers, and asset owners in the US are committed to implementing a variety of measures to address climate change and reach their net-zero goals, according to Cerulli Associates...
n response to the increased attention to climate change risk, institutional investors, asset managers, and asset owners in the US..
Lord Hollick, House of Lords
A House of Lords committee has raised “significant concerns” over the role of UK regulators, their ability to operate with genuine independence from government and how they are held to account...
A House of Lords committee has raised “significant concerns” over the role of UK regulators, their ability to operate with..
Rob Edwards, Morningstar
The complexities of assessing performance from responsible investment strategies have been laid bare after Morningstar’s ESG indices delivered a mixed bag in 2023...
The complexities of assessing performance from responsible investment strategies have been laid bare after Morningstar’s ESG indices delivered a mixed..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by