Citi has significantly expanded its direct custody and clearing network.
The bank has expanded its services to clients in Bulgaria. As a result, its direct custody and clearing network now covers 62 markets globally and 35 markets across Europe, the Middle East and Africa.
“The opening of Bulgaria delivers a clear statement of intent about Citi’s commitment to the custody business both in Central and Eastern Europe and in all of our existing markets. We’re excited to expand our network to 62 proprietary markets globally,” said Lee Waite, Citi's global head of direct custody and clearing.
Stefan Felstein, Citi country officer for Bulgaria, added: “Citi has a long-standing presence in Bulgaria and this new business compliments the existing wide range of products that Citi Bulgaria delivers to customers on a daily basis.”
Citi’s direct custody and clearing network provides clearing and settlement services for the trading and investing activities of broker-dealers, and sub-custody services to banks on a global scale.
