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      Citi Investor Services Wins Full Middle Office Mandate From Aegon Asset Management

      Published: just now

      Citi

      Citi Investor Services has been awarded a full middle office mandate by Aegon Asset Management (Aegon AM), covering US$380 billion in assets under management and extending a 20-year relationship with the client.


      The mandate expands the scope of services already provided to Aegon AM by Citi, which include custody, depositary, collateral, fund accounting and administration, and transfer agency services.


      Citi has extended the breadth of its middle office offering to include full Investment Book of Record (IBOR) services, trade management and settlement, and performance measurement via Aladdin Accounting services. The transition marks a milestone in Citi's growing presence as an integrated service provider on BlackRock's Aladdin investment platform, expanding Citi's Aladdin Provider model in both scale and sophistication. Investor Services now delivers an enhanced suite of services encompassing full middle office, enhanced data management, and accounting and performance services.


      Supporting these enhanced capabilities, Aegon AM's operations employees based in Budapest, Hungary, have joined Citi Investor Services. The individuals are based at Citi's Solutions Centre in Budapest, where they will continue to grow their careers in roles of comparable scope and responsibility, bringing their expertise to the Investor Services team.


      The Citi Solutions Centre in Budapest forms part of a global network of technology and operations hubs for Citi's Investor Services business. Alongside Budapest, teams in India, Poland, the UK and the US also support Citi's Aladdin Provider model for Aegon AM's entities in the UK, US and Netherlands.


      Mike Hughes Citi Investor Services

      Mike Hughes, Head of Fund Services, Citi Investor Services


      Mike Hughes, Head of Fund Services, Citi Investor Services said:

      "This mandate significantly expands our relationship with Aegon AM and exemplifies our strategy to accelerate growth with asset managers globally by providing world class middle office services and technology. We warmly welcome our new colleagues to Citi as we build scale on Aladdin to support the world's largest and most complex asset managers, win new clients, and continue growing our business."


      Mike Tumilty Aegon AM

      Mike Tumilty, Global Chief Operating Officer, Aegon AM


      Mike Tumilty, Global Chief Operating Officer, Aegon AM commented:

      "We are delighted to expand our longstanding partnership with Citi by leveraging their middle office services on our Aladdin platform. Following our successful implementation of Aladdin, working with Citi to operate our middle office on the Aladdin instance was a clear next step in our evolution towards a global, scalable, and efficient operating model. Our team in Budapest were integral to this journey, and we are pleased that they continue to support us, now as a client, while developing their careers with Citi."


      Citi Investor Services provides integrated solutions across custody, fund services and securities finance, as well as cash, payments and liquidity capabilities to institutional investors globally. As of the second quarter of 2026, Citi Securities Services reported approximately US$35 trillion in assets under custody and administration.


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      This content may have been written by a third party. LiquidityFinder makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplies by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.
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      Bhargav is a Business Analyst at LF, working at the intersection of business strategy, marketing, PR, communications, and operations. I enjoy transforming ideas into meaningful initiatives, building better processes, strengthening brand presence, and creating solutions that drive measurable impact.

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