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Citi Private Bank selects Charles River IMS and OpenAi

Citi Private Bank has selected the Charles River Investment Management Solution (IMS) as Citi Investment Management’s portfolio management system, and Citi OpenAias its middle-office services provider and portfolio accounting system.

Citi Private Bank advises the world’s wealthiest, most influential individuals and families.
Citi Investment Management (CIM) is the firm’s core discretionary investment management business.
IMS, provided by Charles River, a front- and middle-office investment management solutions provider, will enable CIM to have a single, global solution for portfolio management and modelling, order management, trading, and pre-and post-trade compliance.
OpenAi, offered through Citi’s Investor Services, will handle middle-office trade processing and reconciliation, information delivery and reporting technology. Built on an integrated data management model, OpenAi will provide CIM’s investment managers direct access to operational workflow throughout the client service lifecycle by connecting Citi’s trading platforms and processing systems, third-party providers, custodians and market data sources, and will allow managers to view and customise data online.
“Our transition from proprietary systems to the Charles River and OpenAi platforms underscores Citi Private Bank’s commitment to grow our investment management business by investing significantly in the latest technology to service our ultra high net worth clients,” says Mark Davidson, chief operating officer, CIM. “And following the conclusion of an extensive search for the right vendor, we were thrilled that the best middle-office and portfolio accounting solution for us, OpenAi, was presented by Citi’s own Investor Services,” Davidson continued.
“In an environment of expanding regulatory oversight and increased operational complexity, it is critical to have access to key portfolio data across multiple counterparties, fund structures and geographies,” says Mike Sleightholme, global head of hedge fund services, investor services, Citi.
“Charles River IMS gives firms like CIM advanced tools and functionality that make portfolio managers and traders more effective,” says Tom Driscoll, global managing director, Charles River. “The solution’s integrated portfolio modelling, construction and real-time trading streamline front- and middle-office processes, reducing clients’ time to market for new investment products and services.”

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