“We conducted a rigorous review of internal and external servicing options before selecting Citigroup,” says Gerald Mazzari, Chief Operating Officer of Lazard Asset Management. “For us, just as significant as Citigroup’s capabilities in account management and record-keeping, is its innovative approach to solving some of the intractable problems in servicing SMA accounts. By outsourcing administrative and operating functions to Citigroup, we can confidently focus on our core competency: delivering superior investment management results and service for our clients.”
“Being appointed by Lazard Asset Management is evidence that we are providing the solutions asset managers are seeking in the SMA space,” says Neeraj Sahai, Global Head of Securities and Fund Services, Citigroup Corporate and Investment Banking. “Our institutional experience as both SMA Sponsor and Manager and our market-leading record of technological innovation enable us to provide preeminent asset managers like Lazard Asset Management with the value-added capabilities they require to scale their SMA business for strong future growth.”
The technological core of Citigroup’s SMA capabilities is Citigroup® Asset Manager Solutions for Separately Managed Accounts. This end-to-end operations servicing platform, which standardizes current and disparate processes across all aspects of the industry, allows investment advisors to manage all their accounts, regardless of style of sponsor, very efficiently. The platform provides real-time access to performance and portfolio data, enables investment advisors to deliver robust statement reporting to clients both in print and via the Web, and allows them to enjoy considerable cost savings and the capability to enhance revenues and assets under management.
In recognition of its technological innovation, Citigroup® Asset Manager Solutions for Separately Managed Accounts was honored as the 2005 “Back-Office Solution of the Year” by The Banker.