Citi has successfully implemented a mandate to convert Victory Capital Management assets to a full-range of middle office outsourcing services, including Trade Processing, Portfolio Accounting and Reconciliation, Performance Measurement, Investor Billing, Voluntary Corporate Actions, and Investor Statements for its institutional portfolios.
The agreement is in addition to Citi’s existing relationship with Victory where it has provided fund accounting, administration and transfer agency services to the Victory Funds since 1986, as well as serving as its global custodian since 2009. Implementation of the additional modules has been completed and Victory is live with the new solution set.
"Our selection of Citi is a testament to the strength of our partnership and their deep knowledge of our business” said David Brown, Co-Chief Executive Officer of Victory Capital Management. "After a thorough evaluation of service providers, we felt that Citi offered the best combination of investment operations expertise and industry-leading technology that will leave us more resources to focus on delivering superior investment performance and service to our clients.”
“Building out our relationship with Victory to the middle-office is a natural progression of our modular architecture across the investment process,” said Chandresh Iyer, Global Head of Investment Services and Global Custody, Securities and Fund Services, Citi, “We are pleased to deliver a solution that allows Victory to focus on their core competencies while gaining operating efficiencies and scale to support future growth.”Citi OpenInvestor® is the investment services solution for today’s diversified investor, combining specialized expertise, comprehensive capabilities and the power of Citi’s global network to help its clients meet their performance objectives across asset classes, strategies and geographies. Citi OpenInvestor provides complete investment services for institutional, alternative and wealth managers, delivering middle office, fund services, custody, and investing and financing solutions that are focused on its clients’ specific challenges and customized to their individual needs. For more information, visit openinvestor.transactionservices.citi.com
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