This global mandate will see Citi manage multiple product offerings under one roof, providing overseas payments of pensions in conjunction with Paymaster (1836), shareholder payments through Equiniti Financial Services Ltd as well as supporting the international payments business for Equiniti International Payments.
Citi’s Treasury and Trade Solutions (TTS) and Foreign Exchange Local Markets Group (FXLM) will work closely together to ensure Equiniti can benefit from its world class solutions through Citi’s market leading FX expertise and TTS global network capabilities, supporting payments in 130+ currencies and real time FX access in over 400 currency pairs, 24 hours a day.
Rajesh Mehta Head, Citi Treasury and Trade Solutions EMEA: We have built a strong relationship with Equiniti over the years. We know the business, we know the people and we have a good understanding of how to support their growth. We are delighted to have been awarded this mandate and look forward to our continued engagement.
Guy Wakeley chief executive of Equiniti commented: Through Citi’s unrivalled payment reach, as well as its global footprint, we have been able to enhance and extend the range and flexibility of services that we offer to our clients. We look forward to growing our relationship in the areas of payment and smart technology solutions.
The new agreement will also see Citi adopting Equiniti as a technology vendor in EMEA leveraging Equiniti’ s suite of smart technology solutions to support specific client segments.
Note for Editors:
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Equiniti provides complex administration and payment services supported by leading technology platforms to a wide range of organisations, including c.70 of the companies in the FTSE 100. It is the UK’s leading provider of share registration and associated investor services, and also has market leading positions in administration of employee share plans, pension administration and software, and employee benefit schemes. Equiniti supports clients in a wide range of industries and has particular strength with clients in the banking, insurance, other financial services and outsourced government services sectors.