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Language Notification

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Underscoring-the-G-in-global-custody

Perspectives

Underscoring the ‘G’ in global custody: How important is a custodian’s reach?

Michael Grippo

By Michael Grippo

Head of Custody Sales - Americas

October 9, 2020Posted InCustody

The global custody industry is undergoing profound changes for the better to meet the needs of families and individuals whose wealth is not constrained by borders and single markets. Such changes entail stronger investor protections, greater transparency in fee structure, new technologies, and addressing client demands for more risk awareness and real-time data.

However, service agility could count for little if the custodian is limited by its global reach or ability to hold assets around the world. Obviously, this is a significant factor when clients with international asset needs seek a custodian to work with. But even if an end-client’s requirements are predominantly domestic in nature, we believe the influence of international events on multiple asset classes demands a custodian with global expertise.

The benefits of working with a global custodian include access to a large number of countries around the world, by using either their proprietary network or creating relationships with top tier third-party local banks, allowing clients to consolidate assets globally.

It is imperative that a global custodian has a well-placed sub-custodian network to support clients’ local market needs around the world, using either its own local branches or other local custodian banks [‘agent banks’] with whom it contracts to be in its network in each market to hold client accounts. A growing appetite for higher returns via an asset base in fast growing emerging markets, especially in the wake of macroeconomic headwinds created by the COVID-19 pandemic in developed markets, adds weight to such a way of thinking.

But, even if a custodian has the right access and coverage for an individual or family’s needs, it is important that it can aggregate this information effectively so that potential cross-border or multi-regional challenges or opportunities may be identified.

In your quest for the right global custodian, consider the following:

 

  • Does your current provider offer you the network of global sub-custodians needed to satisfy your global investments?

 

  • Does your custodian have a large proprietary network in various markets, enabling them to be competitive with fees?

 

  • Does your custodian support your foreign exchange requirements? If you are risk averse for the currency, can it provide solutions i.e. auto repatriate back to your base currency?

 

  • Will your global assets held in custody be held on a bank or broker dealer platform?

 

For global investors, the right custodian can be a key partner in executing your objectives and maximizing opportunities,

With $23.7 trillion in assets under custody and administration, and a global custody network spanning 100+ foreign markets – 63 of which are Citi branches or affiliates, Citi is one of the largest institutional custodians in the world. To further learn what service options and scalability you should seek in a global custodian, please read our recently published whitepaper: Is your custodian helping you protect and grow your wealth?