Cathy Conning Asset Management (CCAM) has outsourced its middle office to Citi after the firm guaranteed it would have operations running within five weeks.
CCAM is a joint venture between Taiwan’s Cathay Financial and Conning, a leading US asset manager.
Citi OpenInvestor middle office provides investment managers with daily operations, data management and technology solutions for investment administration to optimise trade support and client management.
“We have been delighted with the sizable effort made by Citi to set up our administration in only 5 weeks after we came to terms in our agreement and support our business launch,” said Mark Konyn, CEO, CCAM.
“The excellent achievement was the result of the outstanding co-operation between our teams to create a direct link to Conning’s US platform to support middle office operations in Hong Kong and enabled us to start trading immediately. With Citi’s extensive resource pool and global expertise, we have a trusted partner for the long term that is flexible and willing to our business as we grow.”
David Russell, regional head, securities and fund services for Citi transaction services in Asia Pacific, said: “Close collaboration between our teams in Asia and the US enabled Citi to leverage existing relationships with both parties to the joint venture. Our technology edge enabled us to connect CCAM to their order management system within a very tight time frame. Now that CCAM is already live and working well, we are optimistic that this will lead to a deeper partnership between CCAM and Citi in the future.”
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