Citi has been selected to provide custody and administration services to the Canadian Broadcasting Corp. (CBC) pension plan, the first mandate of its kind for Citi in Canada.
“We are pleased to have been chosen by the CBC pension board of trustees to administer such an important asset for the plan members and CBC/Radio-Canada,” says Gurmeet Singh Ahluwalia, securities and fund services head for Citi in Canada.
The 10-year mandate for the $5-billion pension plan includes a host of leading pension administration services, such as custody, accounting, securities lending, foreign exchange, performance and risk analytics, and post-trade compliance reporting.
“After an in-depth review of our service requirements and the capabilities of the global custodians, we are pleased to align ourselves with Citi for the benefit of our pension plan members,” says Debra Alves, managing director and CEO of the pension plan.