Emerging Markets
Citigroup Extends Philippines Business Footprint
The Sun Life business provides services including insurance solutions. This is the first time a bank has won such a deal in the Philippines for middle-office operations, Citigroup said.
Citigroup
Sun Life Investment Management and Trust Corp (SLIMTC) has chosen
Citigroup to provide
it with middle-office services in the Philippines, the first time
a bank has onboarded a middle-office client.
The US bank has been providing custody and fund services including global custody, local custody, and fund accounting services in the Philippines for more than 30 years. Launched in 2003, Citi’s middle-office service supports more than 750 funds in the Asia-Pacific region.
Citigroup has more than $30 trillion of assets under custody and administration.
Sun Life Philippines offers services including life insurance, education, retirement plans and investment solutions.
