Citi Securities Services Onboards South African Wealth Manager Sanlam Private Wealth
Citi Securities Services has partnered with Sanlam Private Wealth to support their business model transformation, providing execution services and custody for non-domestic client securities. This transformation aims to enhance operational efficiencies by outsourcing trading and middle office functions. Imraan Bacus, COO of Sanlam, highlighted Citi's extensive experience and global reach as key factors in their selection. With its history in South Africa since the 1950s and assets under custody exceeding $25 trillion, Citi is well-positioned to help facilitate this transition.
- Citi appointed by Sanlam for execution services and custody, enhancing operational efficiencies.
- Citi's extensive experience and global presence aid in Sanlam's business model transformation.
- Sanlam outsourcing trading functions to Citi allows focus on core competencies in client management.
- None.
Citi supports Sanlam Private Wealth’s business model transformation
“We are honored to have been selected by
The appointment forms part of a complete transformation of Sanlam Private Wealth’s business model, which includes a new investment platform and the outsourcing of trading and middle office functions to Citi. Across the industry, asset managers and wealth managers are increasingly focusing their business models on core competencies, such as portfolio and client management. In doing so, more and more organizations are outsourcing functions to trusted third parties paving the way for greater efficiencies.
“We chose Citi as our partner at this pivotal moment of our business transformation because of their extensive experience as well as the scope and flexibility of their service offering,” said
Citi has had a presence in
With approximately
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Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
1 *As of 6/30/2022, represents totals assets under custody, administration and trust
View source version on businesswire.com: https://www.businesswire.com/news/home/20221026005493/en/
Media Contacts:
rekha.jogiasoni@citi.com
Audra Mahlong
Audra.mahlong@citi.com
Source: Citi
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