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PGGM Appoints Citi as Depositary Bank for Range of Alternative Investment Funds

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© Business Wire 2014
2014-04-16 18:15:01 -

PGGM Vermogensbeheer B.V. (“PGGM”), a wholly-owned subsidiary of the leading Dutch pension administrator, PGGM N.V., has appointed Citi as the depository bank for its range of alternative investment funds. The appointment extends the bank’s already long-standing relationship with PGGM.

Citi established its depositary facility in the Netherlands in July 2013 following the implementation of the Alternative Investment Fund Managers Directive (AIFMD). The bank is now able to support locally-domiciled funds with independent depositary capabilities, including oversight of funds’ service providers, safekeeping of funds’ assets and daily automated monitoring of funds’ investment guidelines and regulatory restrictions.

“We are delighted to welcome PGGM’s fund range as the first live clients for our Dutch depositary,” said Pat Curtin, Global Head of Fund Services at Citi.

“We are continuing to build our presence in the Netherlands and partnering with PGGM’s fund range is proof that we are on track.”

Citi has had a presence in the Netherlands since 1964 and offers a broad range of financial services and products across the full spectrum of Corporate and Investment Banking, Global Markets, Investor Services and Trade and Treasury Solutions.

About Citi

Citi, the leading global bank, 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.

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