The US bank's Australian arm has expanded by extending its partnership with a wealth management platform in the country, part of a build-out across Asia-Pacific.

Citi Australia, part of Citigroup, yesterday said it will extend its partnership with Netwealth, a wealth platform in Australia, as its provider of international custody, global and domestic equities execution and fund administration.

The US bank’s “Execution to Custody” provides institutions with global execution, settlement and custody services in a single portal.

Netwealth recently launched a new series of funds in its Global Specialist Series products with Magellan Financial Group.

Citi’s custody and fund services business has been growing in the Asia-Pacific region. Citi Australia expects to bring over more than 20 custodian clients during the next 12 months.