Citi OpenWealth® Wins Award for Excellence in Business Process Management

Citi today announced that its OpenWealth platform has received an award for Excellence in Business Process Management from FSO Knowledge Xchange (FSOkx). FSOkx recognized Citi’s latest innovation of its award-winning OpenWealth unified managed household (UMH) platform that integrates trust and custody capabilities. FSOkx Excellence and Outsourcing Awards honors those firms that transform financial services. The awards are determined by a panel of judges comprised of thought leaders in the financial services industry. OpenWealth, the first UMH platform, was previously named the 2011 Managed Solution Innovator of the Year by Money Management Institute for the second year in a row.

As asset managers embrace UMH accounts, personal trusts are increasingly converging with brokerage wealth management accounts, requiring holistic wealth management household rebalancing and data aggregation capabilities. Asset managers increasingly need a robust solution capable of rebalancing across accounts, asset classes, managers and reporting platforms to take a holistic management approach for investor assets.

OpenWealth seamlessly aggregates household level data across wealth management platforms, investment managers and third-party custodians, and offers award-winning unified household capabilities — a front-to-back solution that eases key operational and administrative burdens and lets managers focus on building relationships and growing their business.

OpenWealth trust solution offers managers a complete package of trust accounting, operations outsourcing and custody services on a highly scalable, customizable web-based platform with real-time processing and reporting that supports all phases of the account administration lifecycle. OpenWealth has been in production providing UMH capabilities since 2009 and currently supports UMH assets of $4.5 billion and trust assets of $10 billion.

“We are grateful to receive the recognition by FSOkx’ distinguished panel of judges and the continued accolades for our industry leadership," said Chandresh Iyer, Global Head of Custody and Investment Services, Securities and Fund Services, Citi. "We see OpenWealth as truly transforming wealth management services from a series of products sold to investors in silos to wealth managers delivering investment solutions holistically to investors based on needs and goals.”

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 over $13 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.

Global Transaction Services, a division of Citi’s Institutional Clients Group, 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 100 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the first quarter of 2011, it held on average $355 billion in liability balances and $13 trillion in assets under custody.

About Citi

Citi, the leading global financial services company, 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

About FSOkx

FSO Knowledge Xchange is a global media and research organization, providing relevant and timely content pertaining to financial services domains. FSO Knowledge Xchange's web portal features the latest news and views, events, case studies, white papers, analyst viewpoints, thought leadership articles and an extensive directory of financial services outsourcing firms and solution providers by domain and sub-domain categories. FSO's weekly e-newsletter and quarterly magazine provides authoritative, strategic, actionable insight and decision support to the financial services decision- makers within Operations, Technology, Risk Management, Compliance and Outsourcing domains.


Nina Dasm, 212-816-9267

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