Multinational financial services corporation Citi has been appointed by the Sun Life Investment Management and Trust Corp. (SLIMTC) as its middle office service provider in the Philippines.
This partnership will make Citi the first bank in the country to onboard a middle office client. It will also help move the Philippine market closer to global industry standards in post-trade-related activities.
SLIMTC President Mike Enriquez said that this partnership will help enhance their service to clients on “both local and offshore securities.”
Citi Philippines Securities Services head Tiffin Tanseco said that their middle-office solution will help “clients to focus more on their core investment activities” while their trade settlements and operations-related activities are being supported.
Citi has been offering custody and fund services in the Philippines for over 30 years.
Its middle office service supports over 750 funds in the Asia Pacific region and employs more than 500 professionals across Australia, Malaysia, India, and Singapore.