Citibank Worldwide Securities Services
(WWSS), a unit of Citigroup's Global Corporate and Investment Banking division, has been appointed by JANUS as custodian for four U.S. money market funds totaling over $7 billion in assets.
Citibank has been expanding its efforts in the mutual fund market, and this latest appointment comes on the heels of recent custody mandates from Fidelity Investments
, DimensionalFund Advisors
"We are pleased to be working with JANUS and are committed to delivering high quality service," said Robert Taaffe
, managing director, North American Custody Sales for Citibank WWSS. "We have excellent custody and cash management capabilities. The ability to deliver these services through a single front-end `Citibanking`, provides JANUS with the flexibility and efficiency required to manage the operation of its money market funds."
"We selected Citibank because of its ability to provide automated and timely wire transfer and securities settlement processing," said Glenn O'Flaherty
, treasurer of JANUS Funds. "Citibank's service will support the growth of the portfolios and assist JANUS in delivering excellent service to its shareholders."
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