Citi takes USD9bn of John Hancock fund assets from State Street

A major breakthrough for Citi in the ’40 Act space, where John Hancock Investment Management has transferred the custody of USD9bn in fund assets to Citi from State Street. Citi has assumed custody for three Hancock funds: the Fundamental Large Cap Core, the Balanced and the Disciplined Value International, Citi has an existing mutual fund servicing relationship with Hancock, which is owned by Manulife.