Mirae Asset Global Investments selects Citi for Custody and Fund Administration Services in Australia

From

Kris Walesby

Mirae Asset Global Investments, a leading global investment manager with over AUD 305 billion in assets under management[1], has appointed Citi Australia as its provider of custody and fund administration services for its Australian traditional fund business.

With over $30 trillion[2] of assets under custody and administration and the industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides clients with extensive on-the ground local market expertise, innovative post-trade technologies, customised data solutions, and a wide range of custody and fund services.

Kris Walesby, Chief Executive Officer, Mirae Asset Australia noted: “We are delighted to partner with a highly experienced partner such as Citi as we strategically look at growth in Australia.”

“Mirae Asset Global Investments works closely with Citi in a number of markets globally, and we look forward to their support and enhanced infrastructure further enabling us to provide a quality experience for current and future investors in Australia.”

Oliver Reynolds, Chief Operating Officer, Mirae Asset Australia added: “We are expanding in Australia and our trusted partnership with Citi will enable us successfully execute our expansion of products, across both passive and active investment solutions and grow our investor base.”

“We have expanded our presence in Australia as well as increasing investment in our people and overall platform in the last couple of years. Having Mirae Asset Global Investments select Citi for their custody and fund administration needs is a validation of those efforts and we are honored to be able to work with Mirae Asset Global Investments in Australia as we already do in a number of geographies,” said Martin Carpenter, Citi’s Head of Securities Services in Australia.

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[1] We currently invest over AUD 305 billion on behalf of clients, giving us the scale and experience to identify opportunities in a changing world (AUM as of 31 October 2021)
[2] As of Q2 2021. AUC/A figure separately represents gross assets for which Citi provides Global Custody and sub-custodian services via its Direct Custody and Clearing business and includes Issuer Services. Citi previously reported AUC/A numbers on a net basis, therefore discounting assets serviced by both businesses

 

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