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Citi Investor Services awarded full middle office mandate of Aegon Asset Management
13 August 2026 UK
Image: mikael/stock.adobe.com
Citi Investor Services has been awarded a full middle office mandate by Aegon Asset Management, covering US$380 billion in Assets under Management (AuM) and extending a long-term relationship of 20 years.
This mandate expands the scope of services already provided to Aegon AM by Citi, including custody, depositary, collateral, fund accounting, and administration as well as transfer agency services.
Citi has extended the breadth of its middle office offering to include full Investment Book of Record (IBOR) services, trade management and settlement, and performance measurement via Aladdin Accounting services.
Citi says this transition marks a significant milestone in its growing presence as an integrated service provider on BlackRock's Aladdin investment platform.
Mike Hughes, head of Fund Services at Citi Investor Services, says: “This mandate significantly expands our relationship with Aegon AM and exemplifies our strategy to accelerate growth with asset managers globally by providing world class middle office services and technology.
“We warmly welcome our new colleagues to Citi as we build scale on Aladdin to support the world's largest and most complex asset managers, win new clients, and continue growing our business.”
Mike Tumilty, global chief operating Officer at Aegon AM, adds: “We are delighted to expand our longstanding partnership with Citi by leveraging their middle office services on our Aladdin platform.
“Following our successful implementation of Aladdin, working with Citi to operate our middle office on the Aladdin instance was a clear next step in our evolution towards a global, scalable, and efficient operating model.”
This mandate expands the scope of services already provided to Aegon AM by Citi, including custody, depositary, collateral, fund accounting, and administration as well as transfer agency services.
Citi has extended the breadth of its middle office offering to include full Investment Book of Record (IBOR) services, trade management and settlement, and performance measurement via Aladdin Accounting services.
Citi says this transition marks a significant milestone in its growing presence as an integrated service provider on BlackRock's Aladdin investment platform.
Mike Hughes, head of Fund Services at Citi Investor Services, says: “This mandate significantly expands our relationship with Aegon AM and exemplifies our strategy to accelerate growth with asset managers globally by providing world class middle office services and technology.
“We warmly welcome our new colleagues to Citi as we build scale on Aladdin to support the world's largest and most complex asset managers, win new clients, and continue growing our business.”
Mike Tumilty, global chief operating Officer at Aegon AM, adds: “We are delighted to expand our longstanding partnership with Citi by leveraging their middle office services on our Aladdin platform.
“Following our successful implementation of Aladdin, working with Citi to operate our middle office on the Aladdin instance was a clear next step in our evolution towards a global, scalable, and efficient operating model.”
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