Luxembourg, 16 July, 2020 — Mitsubishi UFJ Investor Services & Banking (Luxembourg) S.A. (“MIBL”), the global custody arm of MUFG Investor Services, has today announced that after having undertaken a thorough selection process it has appointed Citibank Europe plc. as its new sub-custodian network provider, and consequently, MIBL will implement a new host-based global custody platform.
The mandate represents a new strategic partnership that combines MIBL’s strong client relationships in global markets and Citibank’s broad range of network, asset servicing and technology capabilities.
“We are delighted to enter into this partnership with Citi,” said Mr. Yoshinobu Hirota, CEO of MIBL. “We look forward to upgrading MIBL’s core custody system and offering improvements in the online user experience for our clients, along with faster response times to client requests and bringing client instruction deadlines closer to market deadlines. Combining our global Investor Services expertise with Citi’s deep knowledge of the local markets gives us the platform to provide comprehensive solutions and market-leading service levels to our clients. “
“This achievement was possible thanks to months of dedication and hard work by many members of the different teams involved. The next step will be onboarding from late 2021 to Q1 2022.” added Mr. Teruaki Kobayashi, deputy CEO of MIBL in charge of the onboarding process.
UFJ Investor Services & Banking (Luxembourg) S.A. (“MIBL”)
Mitsubishi UFJ Investor Services & Banking (Luxembourg) S.A. (“MIBL”) was incorporated in Luxembourg on April 11, 1974 as a société anonyme. Today MIBL is an established global custodian with an extensive network and total assets under custody exceeding USD630 billion. MIBL is a member of MUFG Investor Services, which is the global asset servicing arm of Mitsubishi UFJ Financial Group (MUFG). As a leading global custodian, MIBL offers focused and innovative solutions to assist clients, offering services and products that are tailored to the client’s needs and requirements.
With over $21.5 trillion of assets under custody and administration (as of Q1 2020) and the industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides clients with in-depth local market expertise, advanced processing technologies and a wide range of custody and fund services that can be tailored to meet clients’ needs. 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