BlackRock appoints Citi
26 February 2026 US
Image: NigelWiggins/stock.adobe.com
BlackRock has appointed Citi Investor Services to provide select middle office functions for US$4 trillion in US-domiciled iShares ETFs on the Aladdin platform.
Expanding on the long-standing partnership between BlackRock and Citi, this integrated operating model streamlines the lifecycle of an ETF order, offering enhanced transparency into basket composition, order status, and settlement.
This latest collaboration between BlackRock and Citi follows from a separate mandate in 2021 when BlackRock appointed Citi as an additional post-trade service provider for US-domiciled iShares ETFs.
As part of the 2021 mandate, Citi provides custodial, fund administration, and transfer agency services to these ETFs.
Chris Cox, head of Investor Services at Citi, notes: “Expanding our ETF and middle office servicing capabilities is central to our ambitions to grow market share with global asset managers.
“This latest collaboration with BlackRock reflects the outcome of our product and technology investments and deepens our relationship with a valued partner of the firm.
“The success of our efforts to redefine a future state operating model for ETF middle office is a testament to our shared commitment towards building innovative industry solutions and delivering exceptional service to clients.”
Derek Stein, head of technology and operations, BlackRock, adds, “Citi has been a trusted partner as we evolve our ETF operating model on Aladdin.
"This appointment reflects our confidence in Citi’s ability to support the scale, transparency, and operational rigor required across the iShares platform, ensuring efficient, and resilient ETF operations for our clients.”
Expanding on the long-standing partnership between BlackRock and Citi, this integrated operating model streamlines the lifecycle of an ETF order, offering enhanced transparency into basket composition, order status, and settlement.
This latest collaboration between BlackRock and Citi follows from a separate mandate in 2021 when BlackRock appointed Citi as an additional post-trade service provider for US-domiciled iShares ETFs.
As part of the 2021 mandate, Citi provides custodial, fund administration, and transfer agency services to these ETFs.
Chris Cox, head of Investor Services at Citi, notes: “Expanding our ETF and middle office servicing capabilities is central to our ambitions to grow market share with global asset managers.
“This latest collaboration with BlackRock reflects the outcome of our product and technology investments and deepens our relationship with a valued partner of the firm.
“The success of our efforts to redefine a future state operating model for ETF middle office is a testament to our shared commitment towards building innovative industry solutions and delivering exceptional service to clients.”
Derek Stein, head of technology and operations, BlackRock, adds, “Citi has been a trusted partner as we evolve our ETF operating model on Aladdin.
"This appointment reflects our confidence in Citi’s ability to support the scale, transparency, and operational rigor required across the iShares platform, ensuring efficient, and resilient ETF operations for our clients.”
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