Citi Adds Fiducian Group to Securities Services Client Portfolio

Australia - Citi Securities Services has added Fiducian Group (ASX:FID) to its growing client portfolio, completing the migration of custody, fund administration and registry services. The project involved transitioning over 1,300 assets, many thousands of transactions, tax parcel data and unit pricing across Fiducian’s Investor Directed Portfolio Service (IDPS), Superannuation wrap and Fiducian Funds product offerings.

Fiducian is an Australian-owned specialist financial services organisation with around AUD$13.1 billion in funds under management, administration and advice. Fiducian’s business encompasses platform administration for investment and superannuation, funds management and financial planning with underlying market leading in-house FinTech capabilities to support financial advisers and their clients.  

Fiducian selected Citi following a competitive tender process. Now onboarded onto Citi’s platform, Fiducian benefits from Citi’s innovative data and technology solutions, comprehensive front-to-back outsourcing model, and an unrivalled global network.

“Since appointing Citi as our securities services partner, we have received high levels of service and support. With Citi as our trusted long-term partner, we are well-positioned to continue our strong growth trajectory,” said Indy Singh, Executive Chairman of the Fiducian Group.

Citi Securities Services has achieved strong growth in Australia. In the past 12-months, Citi Australia has successfully onboarded over four new clients, and assets under custody and administration grew by 14 per cent year-on-year in 2023.

Mark England, Citi Australia and New Zealand Head of Securities Services said, “We are delighted to have been appointed by Fiducian, demonstrating our commitment to servicing Australian investors. Through ongoing investments into our data and technology capabilities, we are well-positioned to deliver a proposition that meets Fiducian’s specific business requirements”.

“Fiducian had an existing relationship with Citi’s Markets execution team, providing an excellent foundation that we are building on with the addition of Securities Services,” Mark said.

With approximately USD$29.2 trillion^[1] 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 custody and fund services that can be tailored to meet clients’ needs.