Citigroup’s Chandresh Iyer Named ‘SMA Player of the Year’ by Fund Action and Fund Directions Citi Executive Cited for Innovative Product Development of OpenWealthSM April 22, 2010 09:06 AM Eastern Daylight Time   NEW YORK--(EON: Enhanced Online News)--Citigroup today announced that Chandresh Iyer, Global Head of Investment Administration Services and Global Custody, was named the “SMA Player of the Year” by Fund Action and Fund Directions -- publications of Institutional Investor. The SMA Player of the Year is awarded to “a prominent figure in the separately managed accounts industry in recognition of their overall influence over the industry.”  This year’s award was in recognition for Citi’s OpenWealthSM the first Unified Managed Household platform for sponsors and other distributors of managed accounts. OpenWealthSM provides several unique tools and features for distributors and sponsors of managed accounts including: l One unified scalable platform across all managed account products and security types l Automated rebalancing and tax optimization across an investor’s household of accounts l Automated overlay and allocation processing with an integrated OMS reducing sponsor costs l Robust pre-trade compliance tools and modeling capabilities to support all types of Rep-as-PM (what does this mean) and Rep-as-Advisor programs l Household reporting of managed and unmanaged assets, including assets held away from the sponsor organization Since its introduction, OpenWealthSM has quickly received very positive market reception and wide acceptance. Dennis McDonald, Head of Product Development for TIAA-CREF’s Individual Products group, the flagship client for OpenWealthSM: said, "Our selection of Citi’s OpenWealthSM platform allows us to meet the needs of our clients with industry-leading customized, goal-oriented portfolio management that is responsive to individual client objectives and investment preferences. It reduces the number of systems and parties with which we need to interface to deliver a highly flexible managed account platform capable of handling a broad array of investment products." “Chandresh has achieved a market-wide reputation for thought leadership and deep knowledge in the investment industry,” said Neeraj Sahai, Global Head of Securities and Fund Services, Citi. “This prestigious award from Fund Action and Fund Directions confirms the industry’s recognition of Chandresh as a leader in managed accounts who develops innovative solutions which deliver bottom-line benefits to Citi’s investment manager and distributor clients. We’re extremely proud to have him on our team.”  Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With over $11.8 trillion of assets under custody and the industry's largest proprietary network, clients can leverage Citi's local market expertise and global reach to extract value across the entire investment value chain. Global Transaction Services, a division of Citigroup’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the first quarter of 2010, it held on average $319 billion in liability balances and $11.8 trillion in assets under custody. About Citigroup Citigroup, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citigroup provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com. Contacts Citi Media Relations Nina Das, 212-816-9267 E-mail: nina.das@citi.com Permalink: http://eon.businesswire.com/news/eon/20100422005916/en