Citi has become the latest custodian to forge an alliance with BlackRock, through its Aladdin Provider network, to enhance the delivery of securities services to Citi’s clients who utilize the Aladdin end-to-end investment management platform. Connecting to Aladdin Provider, Citi will provide outsourced middle office services directly through a client’s Aladdin platform for integration with their front office, from trade confirmation to post settlement reconciliation. This agreement expands Citi’s relationship with BlackRock, for which it provides custody, accounting and/or fiduciary services for BlackRock funds domiciled in Hong Kong, Mexico and Colombia. Citi joins BNY Mellon and Northern Trust, which have struck similar deals with Aladdin.
