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For Immediate Release Citigroup Inc. (NYSE: C)

Citi Appointed as Global Custody Provider for NH Investment and Securities Newly Launched Trustee Services

July 12, 2023

Seoul/Hong Kong Citi Securities Services today announced that it has been selected by NH Investment & Securities Co., Ltd. (NHI&S) as its global custody provider, as NHI&S expands their business model to include trustee services for private investment funds in South Korea, an industry-first move in the country.

Founded in 1969, NHI&S is one of South Korea’s largest and most successful securities firms. Its recent decision to provide trustee services on offshore assets, makes it the first Korean broker-dealer to do so. Historically, these services were only offered by local Korean banks.

As part of this expansion, NHI&S will first act as the trustee for private investment funds (with global markets exposure) specifically targeting Korean institutional clients and will later  expand its capabilities to offer trustee services for funds designed for Korean retail investors.

“As we grow and evolve our business to offer trustee services, we require a partner with the expertise and global network to support this new business activity,” commented TaeYoung Ha, General Manager for Prime Brokerage Services at NHI&S. “Citi is a highly-respected securities services provider and partner in South Korea, and this, coupled with its global presence made it an ideal fit for us.”

“Citi has had a presence in South Korea since 1967, and we have invested heavily in providing a full suite of services to our central depository, public sector, banks, asset managers, insurance and securities firm clients,” said Hee-Youn Lee, Citi Securities Services Head for South Korea. “We are honored that NHI&S, the first securities firm to provide trustee services on offshore assets in Korea, has chosen us to be their global custodian.”

Citi currently provides NHI&S with foreign exchange services through Citi Global Markets as well as cash management solutions through Citi’s Trade and Treasury Solutions business. The addition of global custody will see Citi providing NHI&S with a full range of seamlessly integrated solutions across multiple areas.

“It is an honor to be selected by one of the leading securities firms in Korea as a service provider,” said Aditya Sharma, Citi APAC Head of Custody for Securities Services. “We have been able to leverage our own considerable experience as a Trustee to engage with NHI&S and demonstrate a complete understanding of their needs and our ability to serve them as they expand into a new business area.”

With approximately USD$27.1 trillion1 of assets under custody, administration and trust worldwide, and a leading proprietary network spanning more than 60 markets, Citi Securities Services provides cross-border support for clients with extensive on-the ground local market expertise, innovative post-trade technologies, customized data solutions, and a wide range of securities services solutions that can be tailored to meet clients’ needs.

About NH Investments & Securities

NH Investment & Securities has been leading the Korean securities industry by performing a pivotal role in the growth and development of the Korean capital market. NH Investment & Securities is an industry leader in terms of market share for domestic institution and is planning to increase its asset under trustee to 40 trillion won within the next 5 years.

Equipped with superior competitiveness across all business areas, NH Investment & Securities has continued to provide creative financial service to customers. NH Investment & Securities is preparing to take a big leap forward based on new synergies with the NongHyup Financial Group. By establishing 1) a sustainable growth business model which focuses on prioritizing customers, and 2) unrivaled institutional client business competitiveness, NH Investment & Securities will secure the stature of being the No.1 Securities Firm in Korea.

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions, and individuals with a broad range of financial products and services.

Additional information may be found at | Twitter: @Citi | LinkedIn: | YouTube: | Facebook:

Media Contacts

Kyungshik Um:, +82 2-3455-2336

Arundathi Abyshekar:, +852 2868 7684

Taeyoung Ha:

1As of 31 March 2023.

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