Citco, a provider of asset servicing solutions to the global alternative investment industry, has partnered with securities class action recovery service provider, Financial Recovery Technologies (FRT).
The new partnership will enable Citco to offer its clients class action monitoring and recovery solutions via its platform.
FRT is now the fourth solutions provider to be added to Citco’s strategic partnership programme, focused on creating an integrated ecosystem of leading third-party buy-side technology solutions, which was launched last year.
FRT works with over 800 firms to help institutional investors monitor litigations, identify eligibility, file claims and collect funds made available in shareholder class action, global and antitrust settlements.
Citco noted that partnerships such as this allow it to further its offering by finding new avenues of utility for the client portfolio data it already collects and processes, instead of isolating it for single-use.
Albert Bauer, managing director of Citco, said: “Continued development of our strategic partnership program by seamlessly integrating complementary services to our existing offering, is allowing Citco to create a one-stop-shop for clients. By doing so we are ultimately reducing costs for our clients and making their lives easier. We are delighted to partner with FRT, the leading provider of securities class action recovery to offer additional value add solutions to our current and future clients.
Rob Adler, president of FRT, noted that the world of class actions has evolved dramatically over the last five years, requiring investors to evaluate their existing governance, controls, and protocols.
Adler added: “FRT has been investing in our relationships with partners to help them provide their clients with access to FRT’s comprehensive suite of services geared at addressing the growing complexities of the global securities and non-securities class action landscape.”
