The collaboration brings together SimCorp’s suite of investment management solutions with Citi’s industry-leading proprietary custody network spanning over 60 markets to help clients navigate the challenge of data consolidation and consumption and enhance productivity.
“We are thrilled to work more closely with SimCorp in support of our mutual clients,” said Sanjiv Sawhney, Global Head of Custody and Fund Services at Citi. “Our clients continually look to us to improve operational efficiencies and this alliance will allows us to better serve our mutual clients and bring tangible benefits.’
“We have enjoyed a strong partnership with Citi in the past, and we are excited to provide our clients further interoperability” said Georg Hetrodt, Chief Product Officer at SimCorp. “Enabling robust and consolidated access to operations and data is essential to our shared clients, and this strengthened collaboration will ensure that our clients have the best possible foundation, helping them to optimize their operating model and drive efficiency.”
The integration between SimCorp and Citi is an extension of Citi’s data services offered through their data and analytics platform, Citi VelocitySM Clarity. Citi Velocity Clarity allows clients to interact with and gain insights from their data, with prioritized workflows and analytics, through one single platform. Citi’s clients benefit from access to faster, up to date data including access to near-real-time post-trade data from across Citi’s broader network.
“We are delighted to form this alliance with SimCorp which supports Citi’s strategy of open architecture for data delivery to remove friction for clients” said Fiona Horsewill, Global Head of Data for Citi Securities Services. “The integration of post-trade data into SimCorp Dimension® will allow clients to easily view up to date statuses and investment information though their own lens and gain efficiency by accessing all of their information and workflows through the channel of their choice, bringing the local markets closer to our clients.”
Citi’s Clarity platform continues to expand its data integration and delivery framework, facilitating such initiatives, alongside real-time API consumption and visualizations. SimCorp is focused on delivering turn-key solutions that creates a data network for clients to access market participants and platforms using connectivity, messaging layers, data integration and warehousing to provide a consolidated front to back investment and accounting book of record.
About SimCorp
SimCorp provides integrated, best-in-class, multi-asset investment management solutions to the world’s leading asset managers, fund managers, asset servicers, pension and insurance funds, wealth managers, central banks, sovereign wealth funds and treasury. Deployed on premise or in the cloud, SimCorp’s core solution, SimCorp Dimension®, alongside SimCorp Coric®, SimCorp Gain™ and SimCorp Sofia™ form a powerful and complete solution. Together with a range of managed services, they support the entire investment life cycle, based on a market-leading IBOR. SimCorp invests around 20% of its annual revenue in R&D, helping clients develop their business and stay ahead of ever-changing industry demands. Listed on Nasdaq Copenhagen, SimCorp is a global company, with regional offices across Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.
About Citi
With over $30 trillion1 of assets under custody and administration and the industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides clients with extensive on-the ground local market expertise, innovative post-trade technologies, customized data solutions, and a wide range of custody and fund services that can be tailored to meet clients’ needs.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at http://www.citigroup.com | Twitter: @Citi | YouTube: http://www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: http://www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
Media Contact
Citi: Rekha Jogia-Soni – +442075002843 – [email protected]
SimCorp: Tobias Brun-Falkencrone – +4529381384 – [email protected]
1As of Q2 2021.AUC/A figure separately represents gross assets for which Citi provides Global Custody and sub-custodian services via its Direct Custody and Clearing business and includes Issuer Services. Citi previously reported AUC/A numbers on a net basis, therefore discounting assets serviced by both businesses.
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