Citigroup Opens Custody and Clearing Centre in The Netherlands

Following the acquisition of ABN Amro’s direct custody, securities clearing and fund services business last October, Citigroup is relocating operations and staff to the Netherlands. The acquired ABN Amro businesses have joined Global Transaction Services in Citigroup’s corporate and investment bank. This client service operation will be housed in a new building in Breda, providing on-the-ground service and product delivery capabilities to clients in the Netherlands and across the region. Citigroup will continue to maintain a branch office in Amsterdam. Francesco Vanni d’Archirafi, chief executive officer of Citigroup’s Global Transaction Services business in EMEA said, “We are very pleased with the excellent quality and service commitment of our team in Breda. This is a strategic investment for Citigroup that will not only significantly further strengthen our market position in the Netherlands, but also enhance our client delivery model across Europe and Asia with value-added servicing capabilities and expertise.”

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