Citi Securities and Fund Services (CSFS), a division of Global Transaction Services, has been mandated by Bangladesh Bank, the central bank of Bangladesh, to provide global custody services. Under the mandate, CSFS will provide global custody services such as safekeeping of assets, settlements monitoring, corporate action processing, income collection, recordkeeping and consolidated reporting.
Reportedly, the mandate will initially cover Bangladesh Bank’s offshore investments in international markets. Bangladesh Bank will be positioned to expand and diversify investments into different markets, leveraging Citi’s end-to-end securities services across the globe.
David Russell, managing director, regional head of securities and fund services, Asia Pacific, Citi, said: Public sector investors in Asia Pacific will move further offshore, and we are confident they will continue to turn to Citi.”
