Citi Australia has extended its partnership with Netwealth as its provider of international custody, global and domestic equities execution and fund administration.
Netwealth will be the first Australian wealth platform to have access to Citi's global platform execution to custody (E2C), which provides institutions with global execution, settlement and custody services.
The announcement comes as Netwealth recently launched a new series of funds within their global specialist series products with Magellan Financial Group.
Citi Australia’s head of equities Daniel Young said: "Netwealth has an outstanding reputation in the local market and we are thrilled to provide them with a high-tech solution that will reduce manual workload, allowing them to concentrate their resources towards clients and technology as opposed to operational flow.”
Matt Heine, joint managing director of Netwealth, commented: "We know our clients want greater access to International markets both directly, via funds and also via our managed account, and Citi was able to provide unparalleled exposure for our team.”
Heine added: “Following a seamless onboarding experience, we look forward to leveraging Citi's strengths to help in our aim to be the most comprehensive wealth platform in Australia.”
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