ETF provider Global X has appointed Citi as custodian and fund administrator of its Australian ETF business.
Following a comprehensive market review process, the ETF provider said its selection of Citi was driven by its global expertise in ETF servicing, custody and fund administration, as well as its existing local capabilities and global custody network.
Global X explained that Citi’s appointment reaffirms the firm’s commitment to strengthening its operating model, enhancing service deliver and supporting ongoing growth of its ETF platform.
The migration to Citi is set for October 2026 and will be carried out via a structured transition programme to ensure a smooth handover of custody and fund administration services.
Global X added that there will be no change to investment strategies or the investor experience as a result of this transition.
Alex Zaika, chief executive of Global X Australia, said: “Citi’s global platform, combined with its local expertise, positions us well to support the next phase of our growth while maintaining the highest standards of service our investors expect.
“Global X has a leading position in thematic ETFs with ambitious growth plans across fixed income and core exposures. As we continue to expand our product offering, Citi’s technology, global reach and ETF servicing capabilities will help scale our operational foundation and support future innovation for investors.”
For Citi, it said this partnership underscores its ability to support clients with innovative solutions in Australia’s growing ETF market as well as building toward Citi’s growth ambitions to strengthen its presences across the Asia Pacific region.
Mark England, Citi Australia and New Zealand co-head, services, added: “We are thrilled to partner with Global X ETFs to provide custody, fund administration, ETF and middle office services, leveraging our leadership in ETF servicing and the continued investment in our platforms.
“This is a first-of-its-kind collaboration that delivers complete front-to-back middle office support. Our global connectivity, deep market expertise and proprietary platforms position us strongly to support Global X as it scales across fixed income, thematic and core exposures.”
Citi Investor Services has around US$31 trillion ($44 trillion) in assets under custody and administration with a network spanning more than 60 markets globally, and utilises its local market expertise, post-trade technology, and an integrated custody, fund services and securities finance offering to deliver on clients’ needs.
