Citibank and UBS to pro­vide so­lu­tion to bro­ker-deal­ers

The Pak Banker - - Front Page -


Citibank and UBS, a lead­ing provider of wealth man­age­ment, in­vest­ment bank­ing and as­set man­age­ment ser­vices, have an­nounced a com­bined ser­vice of­fer­ing that pro­vides a com­pre­hen­sive post-trade so­lu­tion to bro­ker-deal­ers in Asia Pa­cific. The part­ner­ship brings to­gether the op­er­a­tional ex­per­tise and scale of both Citi and UBS to pro­vide mid­dle of­fice, back of­fice, clear­ing, as­set ser­vic­ing and cus­tody ca­pa­bil­i­ties to those bro­ker-deal­ers seek­ing to min­i­mize costs, while re­tain­ing op­er­a­tional flex­i­bil­ity.

The post-trade so­lu­tion en­ables bro­ker-deal­ers to fo­cus on their core busi­ness and al­lows them to ex­pand re­gion­ally with­out the fixed costs as­so­ci­ated with main­tain­ing op­er­a­tional in­fra­struc­ture. Citi and UBS be­lieve the cost pres­sures and reg­u­la­tory change fac­ing bro­ker-deal­ers chal­lenge the ex­ist­ing self-ser­vic­ing model and present an im­me­di­ate and unique op­por­tu­nity to trans­form the post-trade land­scape in the Asia Pa­cific.

"Firms are in­creas­ingly hav­ing to re­view their oper­at­ing op­tions given the ex­treme pres­sure on cost bases and a reg­ula- tory en­vi­ron­ment that is highly chal­leng­ing and rapidly evolv­ing. UBS be­lieves that this will drive a pref­er­ence for buy­ing ex­per­tise to ser­vice busi­ness rather than de­vel­op­ing pro­cesses and tech­nol­ogy in-house which re­quire sig­nif­i­cant in­vest­ment and lead to an un­sus­tain­able level of fixed costs", said An­drew Murfin, Re­gional Head of UBS's Group Op­er­a­tions, "UBS and Citi's rec­og­nized and proven ca­pa­bil­i­ties in mid­dle, back of­fice and cus­tody of­fers po­ten­tial clients the abil­ity to lever­age the high qual­ity tech­nol­ogy, oper­at­ing in­fra­struc­ture and mar­ket ex­per­tise of­fered by both par­ties."

Citi is pleased to be work­ing with UBS on this mar­ketlead­ing so­lu­tion for the re­gion. Through its Se­cu­ri­ties and Fund Ser­vices busi­ness, Citi's in­dus­try-fo­cused ex­perts pro­vide in­sti­tu­tional in­vestors world­wide with tai­lored so­lu­tions de­liv­ered through proven global plat­forms that fea­ture mod­u­lar, open ar­chi­tec­ture. With $12.8 tril­lion of as­sets un­der cus­tody and the in­dus­try's largest pro­pri­etary net­work, clients can lever­age Citi's lo­cal mar­ket ex­per­tise and global reach to ex­tract value across the en­tire in­vest­ment value chain.

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