New York (HedgeCo.net) – Hedge fund giant Man Group plc has finalised the terms of an agreement with Citi Global Transaction Services’ Securities and Fund Services division to become Man’s global shareholder services partner.
Under the terms of the agreement Citi will perform global shareholder and transfer agency services for AHL and Man multi-manager private investor products, which are distributed globally through Man’s network of approved intermediaries and distribution partners.
“Citi has been chosen based on its proven expertise, unrivalled global presence and demonstrable track record of service delivery for private investor operations.” Simon White, Head of Product and Client Operations at Man said. “Our decision to award a new brief to Citi will help us achieve our goals of having fully independent fund administration and transfer agency services, thereby creating a scalable global platform for our future business. Both Citi and Man are committed to maintaining and improving the excellent client service levels that we have worked so hard to achieve.”
Citi will commence their role at the end of March and a joint project will then follow to enhance services to Man’s funds, simplify administration arrangements and migrate all of Man’s private investor products onto Citi’s platform. Man and Citi will adopt a phased approach to this programme of work to ensure that client service levels are not disrupted.
Alex Akesson
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