Bangladesh central bank awards custody mandate to Citi

Bangladesh Bank has appointed Citi Securities and Fund Services as its global custodian, marking a successful expansion into the South Asian nation for the bank. The appointment comes just seven months after Citi first announced direct custody and clearing services in Bangladesh. Under the terms of the mandate the bank will provide consolidated reporting, corporate action processing, income collection, recordkeeping, safekeeping of assets and settlements monitoring. "We were very im…