Federated Investors Inc. selected a Citigroup Inc. unit to be the service provider for its retail separately managed account business.
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Global Transaction Services, a business unit of Citigroup Corporate and Investment Banking, will provide access to performance and portfolio data and create online and print statements for Federated Investment Counseling, the Pittsburgh company’s investment manager announced Monday.
This mandate involves 6,000 retail accounts with about $2 billion of assets under management. Federated managed a total of $217 billion on March 31.
