Citi opens securities lending office in LA

Award winning OpenLend client service and sales coverage expanded to meet fast to growing client base

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New York, NY – Citi today announced the opening of a securities lending office in Los Angeles as part of its commitment to expand its OpenLend capabilities in key cities and regions around the globe. The new members of its Los Angeles team bring extensive years of industry experience and will be responsible for product sales and relationship management for the Mid-West and Western regions of the United States.

"Client satisfaction is at the core of our OpenLend offering," said Tim Douglas, Global Head of Securities Finance, Global Transaction Services, Citi. "Our new Los Angeles office will provide the on-the ground presence we need to deliver premier service and respond faster to our expanding client base."

OpenLend is an open architecture securities lending solution that leverages Citi's global presence, robust risk management controls and innovative trading strategies to help clients achieve their performance objectives. Citi's complete securities and funds services product offerings for institutional and alternative asset managers include middle office, fund administration, global custody, and investing and financing solutions that are focused on clients' specific challenges and customized to their individual needs.

Through its Securities and Fund Services business, Citi's industry-focused experts provide institutional investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With $12.5 trillion of assets under custody and the industry's largest proprietary network, clients can leverage Citi's local market expertise and global reach to extract value across the entire investment value chain.

Global Transaction Services, a division of Citi's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup's Global Transaction Services supports over 65,000 clients. As of the third quarter of 2011, it held on average $365 billion in liability balances and $12.5 trillion in assets under custody.