Citigroup Fund Services Canada

Overview

On 17th November 2010 Citigroup Fund Services Canada Inc. (CFSC), a leader in providing integrated securities and fund services to Canada’s investment fund industry, announced that it had reached an agreement with Larsen & Toubro Infotech (L&T Infotech), a global industry leader in information technology systems management, to be its exclusive provider of Transfer Agency technology services.

In addition, L&T Infotech purchased CFSC’s existing IT outsourcing business.

Significance

This agreement will enable Citi to focus on core strengths as it continues to grow it’s Securities and Fund Services business in Canada. L&T Infotech’s focus on technology development will ensure Citi’s technology platform remains world-class.

CFSC has built it’s reputation around providing the highest level of service to Canada’s investment fund industry and will benefit from L&T Infotech’s reputation for excellence.

The transaction will strengthen L&T Infotech’s footprint in the Global Transaction Services segment and bring domain & technology rich talent and important IP to it’s portfolio.

Our Role

Acted as sole financial intermediary to Citi, utilising industry expertise to advise on optimal value, transaction structure and contractual terms.