Singapore insurer Singlife has selected Citi and BlackRock Aladdin to enhance its asset management capabilities across its front, middle and back-office offering.
Singlife’s partnership with Citi and BlackRock Aladdin aims to provide clients with portfolio management capabilities that improve efficiencies, automate controls and enable a seamless front-to-back experience.
Portfolio management services will be integrated with complete attribution and full reconciliation across all investment and accounting records while incorporating sustainability and meeting regulatory requirements.
In addition, Singlife will be able to leverage the platform, empowered by BlackRock Aladdin, to calculate and monitor risk exposures while optimising portfolio returns.
The selection of Citi and BlackRock Aladdin was coordinated and led by Alpha FMC, a
specialist asset management consultancy.
Kim Rosenkilde, Group Chief Investment Officer, Singlife, commented: “Safeguarding assets, improving internal processes and increasing efficiencies across the board is fundamental in allowing us to better serve and focus on our clients.
“Our mission to always find ‘a better way’ extends to our engagement with Citi and BlackRock Aladdin®, who are globally recognised as the premier provider of custody services and the industry-leading portfolio management platform respectively.
“We are delighted to work with such credible and strong partners that are using their established service offering to help us provide better investing experiences for our valued clients, throughout all stages of their investment journey.”
Singlife is one of Southeast Asia’s largest insurance companies, serving more than one million customers in Singapore.
According to the announcement, this partnership is one of Citi’s and BlackRock Aladdin’s most significant mandates in Asia to date.
In 2020 Citi entered into an alliance with BlackRock, to enhance the securities services lifecycle for mutual clients.
Akiyoshi Takeuchi, Head of BlackRock Solutions Asia-Pacific, said: “Clients need innovative solutions that enable them to respond rapidly as we navigate increasingly uncertain markets. One-stop access to a wealth of necessary data and portfolio management technologies is critical to help our clients make more informed investment decisions.
“The extension of our partnership with Citi to enable front-to-back-office transformation at Singlife underscores the importance all three firms place on meeting client needs and transforming their experiences”.
Alvin Goh, ASEAN Head of Securities Services, Citi, added: “As one of the largest providers of Securities Services globally, with a strong presence in Asia, we are honoured to have been selected by Singlife to be their custodian of choice.
“Their decision to use our middle-office service demonstrates the power of the Citi-BlackRock Aladdin® proposition, which combines the know-how, expertise and strength of two of the most respected financial institutions.”
