As Nordea is shutting its Nordic sub-custody activities, a new agreement will see the bank refer its clients to Citi instead. As a result, Citi now “expects to significantly grow its market share in the Nordics”.


• Sign up for free here to this year’s PostTrade 360° Stockholm conference, hosted online from our Stockholm studio on 25­–26 March 2021.
• Sessions, speakers and sponsors are presented here.
• Do you have LinkedIn friends who might want to join the conference? To invite them, just go here and hit “Share”! 


The strategic referral arrangement was announced by Citi Wednesday.

Advertisement
Posttrade360 event 2025

“We anticipate that many of Nordea’s clients are existing Citi clients in other parts of the world. Citi is well placed to not only meet their needs, but help standardize their businesses across different geographies,” says Matthew Bax, Citi’s global head of direct custody and clearing at Citi.  

The bank emphasizes the role of its Dublin-based “European Single Legal Vehicle” platform, which lets clients connect directly to “all major European markets, including almost all the TARGET2-Securities (‘T2S’) markets”.