Citi has recently added Fiducian Group to its client portfolio, signifying the integration of a distinguished Australian-owned financial services organization. Fiducian, an Australian-owned specialist in financial services, oversees approximately AUD$13.1 billion in funds across management, administration, and advisory services.
The migration of custody, fund administration, and registry services for Fiducian has been successfully completed by Citi. This project encompassed the transition of over 1,300 assets, numerous transactions, tax parcel data, and unit pricing across Fiducian's Investor Directed Portfolio Service (IDPS), Superannuation wrap, and Fiducian Funds product offerings. In addition to this, Citi Australia welcomed more than four new clients in 2023 with a 14% year-on-year increase in assets under custody and administration according to a press release by Citi.
"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," stated Indy Singh, executive chairman of the Fiducian Group according to a press release by Citi.
Echoing Singh's sentiment was Mark England, Citi Australia and New Zealand head of securities services who 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," according to a press release by Citi.
Fiducian Group Limited is an ASX-listed financial services organization that provides wealth services and solutions for clients while generating returns for shareholders. Their securities are quoted on the ASX under the code FID. The company operates five divisions offering financial planning, investment funds management, superannuation, investment platform administration, and information technology solutions across offices in capital cities and regional centers throughout Australia. Established in 1996, Fiducian is committed to adapting to the marketplace to meet the needs of its clients according to the About webpage provided by Fiducian.