Citi has been awarded a mandate to provide securities lending and custody for the State of Washington Office of the State Treasurer (OST). The OST manages the investments on behalf of the State and local government entities within the State of Washington.
‘We selected Citi for our securities lending and global custody because their approach allows us to personalize a program to best meet our needs. We are particularly satisfied with the trading performance and high-touch services of its securities lending professionals,” said Douglas Extine, deputy treasurer, State of Washington. “We also appreciate having direct access to Citi’s agency lending desk and are impressed by the quality of the economic updates and global market intelligence it provides to its clients.”
OpenLend is an open architecture securities lending solution that leverages Citi’s global presence, robust risk management controls and innovative trading strategies to help clients achieve their performance objectives.
Tim Douglas, global head, securities finance, Citi Global Transaction Services, said, "We are very pleased that the State of Washington has selected us to provide this suite of securities lending and custody solutions. We look forward to working with the financial executives in the State to deliver these capabilities in a manner targeting both enhanced portfolio performance and improved overall operational efficiency.”
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