Citi Launches OpenAi to Streamline Operational Management for Alternative Investment Managers
Citi has launched OpenAi, a specialized range of information delivery
and reporting technology to support the delivery of leading solutions
for Citi’s alternative investment clients. OpenAi will enable
alternatives managers around the world to be more efficient, invest in a
more effective manner, and help better manage operational risk.
In an environment of expanding regulatory oversight, demand for greater
transparency, increasing competition and operational complexity, having
access to key portfolio data and exposures across multiple
counterparties, fund structures and geographies is critical.
Built on an integrated data management model, OpenAi connects clients’
trading platforms seamlessly to Citi’s processing systems, third-party
providers, prime brokers and market data sources, and gives them direct
access to operational workflow throughout the service lifecycle. With
OpenAi, alternatives managers have process and data visibility along
with visualization tools to view and customize data online in real time,
and access through mobile devices.
“Operating an alternative asset management business today requires
substantially more resources to compete than previously,” said Mike
Sleightholme, Global Head of Hedge Fund Services, Citi. “Citi’s DNA is
embedded in our services business and allowed our team to build a
comprehensive solution to enable our clients to navigate this new
landscape and support the delivery of operational alpha. Institutional
investors today are demanding more transparency and visibility and
through Citi OpenAi our clients have access to key aspects of operating
an alternatives business in one web-based platform.”
With over $482 billion of alternative assets under administration
globally, Citi is a leading provider of investment services that help
hedge fund managers ease operational and administrative burdens. Citi’s
full suite of solutions delivered through Citi OpenInvestor lets
alternative fund managers focus on building relationships and growing
their business.
OpenAi shares the benefits and features that are critical to operating
in this new environment:
• Direct Access — Users connect through a single point of entry,
streamlining and consolidating access to portfolios and account data,
process workflow, third-party providers and market utilities.
• Flexibility — Market participants label, sort and organize data
to suit specific portfolio management, investment reporting and client
service needs. Solutions are tailored to help match client objectives,
and scaled to grow with their businesses.
• Visibility — OpenAi gives investment, administrative,
compliance and risk management teams real-time, web-based access to
operational workflow, transaction status, and investor and portfolio
data.
• Integrity — Information is input to and distributed from a
centralized data warehouse to provide greater data integrity, help
reduce operational risks, increase downstream processing efficiency and
accuracy, and enhance reporting capabilities.
• Complete Connectivity — OpenAi offers agnostic and seamless
connections to global providers — prime brokers, trading platforms,
clearing houses, custodians and fund accountants — as well as tight
integration with Citi’s extensive administrative and operational
resources and global banking network.
Citi OpenInvestor provides institutional, alternative and wealth
managers with middle-office, fund services, custody, and investing and
financing solutions that are focused on their specific challenges and
customized to their individual needs. For more information, visit openinvestor.transactionservices.citi.com.
Citi’s Transaction Services comprises Securities and Fund Services and
Treasury and Trade Solutions, and is an integral part of Citi’s
Institutional Clients Group. Transaction Services offers integrated cash
management, trade and securities and fund services to multinational
corporations, financial institutions and public sector organizations
around the world. With a network that spans more than 97 countries,
Citi’s transaction services supports over 75,000 clients. As of the
first quarter of 2013, transaction services held on average $415 billion
in liability balances and $13.5 trillion in assets under custody.
About Citi:
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 www.citigroup.com
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