Veritable, L.P. has awarded Citi a mandate to provide a suite of hedge fund services including middle office, fund accounting, and investor services. Veritable, L.P. is among the largest independently owned Registered Investment Advisors in the United States providing integrated investment solutions for families of substantial wealth.
“We chose Citi based on the quality of their staff and the level of transparency their technology systems will provide us,” said Charles Keates, partner, general counsel and chief compliance officer of Veritable L.P. “Citi understood our unique business needs and their technology and service model can enable us to focus more resources on investments and servicing our investors.”
Citi’s web-based middle office monitor allows Veritable’s operations and accounting staff, along with portfolio managers, to monitor trades and positions on a real-time basis through a secure website. In addition, portfolio data is continuously updated and available to Veritable’s accounting, research, risk and fund administration teams, allowing them to run customised reports and make ad hoc inquiries.
“Veritable is a leader in their space and we look forward to providing these services and technology to support the further growth of their business”, said Bob Wallace, head of North America for Securities and Fund Services, Citi. “We are truly pleased that we have the opportunity to demonstrate the value of our expert staff and technology to Veritable.”
