Global investment firm Schroders and banking giant Citi have signed a strategic partnership to launch a discretionary fund management (DFM) service for Citigold, the bank’s mass affluent clients across the UK and select international markets.
The discretionary solution will be delivered by Cazenove Capital, Schroders’ UK wealth management subsidiary. The service is now available to all Citigold clients.
With this partnership, Citi’s clients will be able to take advantage of a broad DFM proposition from Cazenove with a choice of sterling, euro and US dollar currencies.
Citi’s relationship managers will assess individual client risk profiles and financial goals and Cazenove Capital will be responsible for setting an appropriate asset allocation strategy to create portfolios that match their individual needs.
‘Measured and intelligent’
Alexander Ross-Parkinson, strategic partnerships director, Schroders, said: “The combination of Citi’s excellent client service and Cazenove’s DFM service will provide clients with a compelling wealth management solution.”
Nicolas Georgiadis, head of Cazenove DFM, said: “Our attitude to managing our clients’ wealth is measured and intelligent, and we look forward to working with Citi to deliver strong risk-adjusted returns while maintaining a consistent focus on preserving wealth.
“Our business is built on trust, something we have developed whilst working in partnership with advisers for over a decade.”
