Nearly a year after the sale to Citigroup, managing directors of fund services Jim Nolan
and Fred Naddaff
, from the company formerly known as Bisys, sat down with The MFWire
to talk about the transition.
Nolan and Naddaff said the transition has been smooth sailing so far. They pointed out that Bisys filled an existing product gap in the Citigroup line so the company and personnel were kept intact during and after the transition. For Bisys, the deal meant that the company got the scale it needed to compete better in the back-office business.
Post-merger, Citi Fund Services expects to focus on growing the global aspects of its business. In the U.S., Nolan said that the company has been focusing on winning back-office mandates from large fund companies that do their back-office work in-house.
Nolan added that Citi will be announcing some of these wins in the coming months.
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