London
11 July 2013
Reporter: Georgina Lavers
Securities Lending default image
Citi signs up the Nationwide Building Society
Citi has been appointed custodian of the Nationwide Building Society's assets held in Euroclear and DTC. These assets, worth around $10 billion, were migrated to Citi on 7 June 2013.

Nationwide Building Society is the world's largest building society and has around 15 million members.

"We are delighted that Nationwide, the world's largest building society, has decided to entrust its Euroclear and DTC assets to Citi. This represents an endorsement of our product range and allows Nationwide to focus on its core business and adds value for their members," said Sanjiv Sahwney, EMEA head of Citi's securities and funds services.

"We already use Citi for cash management processing, issuing and paying services which are critical functions required by the treasury division in the management of Nationwide's assets and liabilities,” said Paul Gould, the head of operations and strategic development for Nationwide’s treasury division.

“We are therefore delighted that we have been able to extend our relationship with Citi's CTS division to also include global custody of a significant proportion of the group's securities holdings. The streamlining of service provision will improve treasury operations efficiency and demonstrates our commitment to ensuring that we source services from the best providers."

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
BNP Paribas: ESG investment seeing increased interest
25 May 2017 | London | Reporter: Stephanie Palmer
The survey report noted that 77 percent of asset owners already incorporate ESG aspects into their strategies
Nasdaq to support Chilean CSD in post-trade tech
25 May 2017 | Santiago | Reporter: Stephanie Palmer
Based on the Nasdaq Financial Framework the solution will replace Depósito Central de Valores’s existing core system
Funds need to keep an eye on BEPS negotiations
24 May 2017 | London | Reporter: Becky Butcher
Fund participants were encouraged at Guernsey’s Fund Forum to pay close attention to negotiations over base erosion and profit sharing (BEPS) rules
Northern Trust expands UAE operations
24 May 2017 | Abu Dhabi | Reporter: Stephanie Palmer
Northern Trust has opened a new branch office in Abu Dhabi, as part of a continuing focus on business in the UAE
R3 raises record funds for DLT development
24 May 2017 | London | Reporter: Stephanie Palmer
The R3 group has raised $107 million in two tranches of fundraising, securing the largest ever investment in distributed ledger technology to date
Promotions abound at Interstrust in Jersey
24 May 2017 | Jersey | Reporter: Stephanie Palmer
Intertrust in Jersey has made a spate of promotions, including elevating Sherin Sugeeswaran to the role of associate director in the fund services team
RSRCHXchange boosts research offering with data consumption partnership
23 May 2017 | London | Reporter: Stephanie Palmer
Institutional research marketplace RSRCHXchange has partnered with corporate access management solution provider CorpAxe in order to make research consumption data available to the buy side
More news