Saxo Bank Appoints Citi to Provide Global Custody Services
Online trading and investment specialist Saxo Bank Group has awarded Citi Global Transaction Services (GTS) a new mandate to provide global custody services for cash equities and fixed income instruments traded globally by its clients, which will include the provision of settlement, safekeeping and assets servicing. Denmark-based Saxo Bank Group will also have access to Citi’s full suite of securities services and cash management capabilities.
Claus Nielsen, head of markets, Saxo Bank, said: “We already have a close collaboration with Citi and look forward to expanding it even further. We need a strong partner like Citi as we move ahead with strengthening our global footprint and widening the scope of our product offerings. Citi can help us with our growth objectives by offering innovative and effective solutions in accordance with our requirements. For Saxo Bank, this is a unique opportunity to expand our global custody services for the benefit of our existing and new clients.”