Citi has been selected to provide custody and administration services to the Canadian Broadcasting Corporation Pension Plan, the first mandate of its kind for Citi in Canada.
The 10-year mandate for the $5-billion pension plan includes a host of pension administration services offered by Citi in markets around the world, such as custody, accounting, securities lending, foreign exchange, performance and risk analytics, and post-trade compliance reporting.
"We are pleased to have been chosen by the CBC Pension board of trustees to administer such an important asset for the plan members and CBC/Radio-Canada." said Gurmeet Singh Ahluwalia, securities and fund services head for Citi in Canada.
"Citi's proven abilities in services to the asset management industry offer top-notch value, efficiency and transparency to our clients. We look forward to a mutually beneficial working relationship."
"After an in-depth review of our service requirements and the capabilities of the global custodians, we are pleased to align ourselves with Citi for the benefit of our pension plan members," said Debra Alves, managing director/CEO of the pension plan.
"We are excited about the value-added services they will bring to our plan, including increased transparency and risk management tools."
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