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Citi to serve Luxembourg state pension fund

Citi has announced that its global custody, fund accounting and fund administration solution for Fonds de Compensation de la Securite Sociale is live and that some of the assets have been successfully migrated onto Citi's global funds administration and custody platforms in Luxembourg.

Citi was earlier appointed by the Fonds de Compensation du regime general de pension through a public tender process to service new Luxembourg state pension fund.

Marc Pecquet, Citi country officer for Luxembourg, said: We are thrilled to be working with Fonds de Compensation. Citi’s appointment by Fonds de Compensation underscores our commitment to being the local administrator of choice in Luxembourg and our ability to service both public and private sector clients in the country.