Citi Supports the Industry’s Largest Mutual Fund to ETF Conversion
“Citi has been a long-standing service provider to Dimensional's funds and has been a vital partner during this conversion process,” said Gerard O’Reilly, Co-CEO and CIO of
“This was a monumental conversion for Dimensional, Citi and the ETF Industry,” said
This mandate expands a global relationship between Dimensional and Citi Securities Services that dates back to 1997 when Citi began providing global custody and foreign exchange services. Over the years, the relationship has grown to include agency securities lending, global fund services, transfer agency, middle office and collateral management services. In 2020, Citi was appointed by Dimensional to provide securities services for Dimensional’s new family of actively managed, transparent ETFs. As part of the mandate, Citi provides fund administration, global custody, transfer agency, agency securities lending, and ETF services.
“We are proud to further build on our long-standing relationship with Dimensional by partnering with them on this ground-breaking conversion,” said
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.
Additional information may be found at http://www.
1] As of Q1 2021. AUC/A figure separately represents gross assets for which Citi provides Global Custody and sub-custodian services via its Direct Custody and Clearing business and includes Issuer Services. Citi previously reported AUC/A numbers on a net basis, therefore discounting assets serviced by both businesses.